Lilly (formerly known as Eli Lilly and Company) has agreed to acquire three biotechnology companies to strengthen its infectious disease pipeline with differentiated vaccine platforms. The targets are Curevo Inc., LimmaTech Biologics AG and Vaccine Company, Inc. The transactions, which are subject to customary closing conditions including Hart-Scott-Rodino antitrust review, focus on prevention of viral and bacterial pathogens linked to long-term neurological, oncological and reproductive complications. Combined potential consideration across the deals totals up to approximately $3.83 billion.
Curevo Inc. is a clinical-stage biotechnology company dedicated to developing non-mRNA vaccines. Curevo’s lead product candidate is amezosvatein, an adjuvanted subunit vaccine for the prevention of shingles in adults. The company was founded in 2018 as a joint venture between GC Pharma, the Mogam Institute for Biomedical Research and the Infectious Disease Research Institute. The company is headquartered in Bothell, Washington.
LimmaTech Biologics AG is a Swiss clinical-stage biotech company developing vaccines for the prevention of life-threatening diseases. LimmaTech is developing vaccines against bacterial pathogens for which rising antimicrobial resistance is steadily closing therapeutic options, including Staphylococcus aureus, Neisseria gonorrhoeae and Chlamydia trachomatis.
Vaccine Company, Inc. is a privately held pre-clinical-stage biotechnology company founded to bring next-generation antigen engineering to vaccine science. The company’s proprietary In Vivo Nanoparticle technologies are designed to combine the strengths of mRNA and virus-like particle approaches to enable durable, multivalent immune responses to challenging viral targets. Vaccine Company is advancing a pipeline of preclinical and investigational new drug-enabling programs, led by a vaccine candidate for the prevention of infectious mononucleosis caused by Epstein-Barr virus. The company was founded in 2022 by ARCH Venture Partners.
The acquisitions reinforce Lilly’s strategy of addressing infectious diseases through prevention rather than treatment alone. The deals leverage Lilly’s global scale to advance these platforms and build on growing evidence linking common infections to downstream chronic conditions. They position Lilly to tackle both viral threats and rising antimicrobial resistance.
Centerview Partners LLC and J.P. Morgan Securities LLC are acting as financial advisors, and Cooley LLP is acting as legal advisor to Curevo. LimmaTech is supported by Moelis & Company UK LLP as financial advisor and Goodwin Procter and Vischer as legal advisors. Lazard is acting as exclusive financial advisor, and Cooley is acting as legal counsel to Vaccine Company.
According to data captured in the LevinPro HC database, this transaction represents the 59th, 60th and 61st Biotechnology transaction of the year. In 2025, 137 Biotechnology acquisitions were recorded, with Lilly announcing five deals.
