Eli Lilly and Alnara Pharmaceuticals to merge

Alnara Pharmaceuticals

A definitive merger has reportedly been signed by Eli Lilly and Alnara Pharmaceuticals Inc, whereby Lilly will acquire the privately held biotechnology company that specializes in developing protein therapeutics for the treatment of metabolic diseases.

Alnara's lead product currently in development is liprotamase, a non-porcine pancreatic enzyme replacement therapy (PERT). Liprotamase is under review by the US Food and Drug Administration for the treatment of exocrine pancreatic insufficiency (EPI). Causes of EPI include cystic fibrosis, chronic pancreatitis, pancreatectomy and other conditions. It is thought that the product could generate substantial profits for the company.

While the ins and outs of the merger, including monetary figures, have not been disclosed it is believed that the deal is contingent upon clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.

In a statement, Bryce Carmine, Executive Vice President of Lilly and President of Lilly BioMedicines said, "The acquisition of Alnara provides Lilly with a promising entry into enzyme replacement therapy - an area with unmet medical needs as well as opportunities for novel compounds that give patients additional treatment options."

"Alnara has been very successful in the development of liprotamase - as indicated by its recent submission to the FDA - and we look forward to partnering with Alnara's experts during the regulatory review process."

Alexey Margolin, CEO of Alnara, was as positive in a similar statement saying, "Our agreement with Lilly is an important development as we move liprotamase through FDA regulatory review. Lilly's deep expertise in the US pharmaceutical business, including regulatory affairs and the development of innovative compounds that address unmet medical needs, created a natural fit and could allow for opportunities in markets beyond cystic fibrosis. We look forward to finalizing the transaction and working together on next steps to bring liprotamase to patients."

Eli Lilly and Company Limited is the UK affiliate of major American pharmaceutical manufacturer, Eli Lilly and Company of Indianapolis. Lilly medicines treat schizophrenia, diabetes, cancer, osteoporosis, attention deficit hyperactivity disorder, erectile dysfunction, severe sepsis, depression, bipolar disorder and many other diseases.

Alnara Pharmaceuticals, Inc. is dedicated to developing and commercializing novel protein therapeutics for the treatment of metabolic diseases. The company's innovative approach focuses on designing effective protein therapies that can be orally delivered directly to the gastrointestinal tract without being absorbed into the bloodstream.

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