Eli Lilly has announced two major business development deals, including the acquisition of Ventyx Biosciences for $1.2 billion and a strategic partnership with InduPro to advance cancer therapies.
Lilly will pay $14 per share in cash for California-based Ventyx, which specializes in oral drugs for inflammatory diseases. The transaction is expected to close in the first half of 2026, subject to stockholder approval and regulatory clearance.
The acquisition aims to diversify Lilly’s portfolio, which currently relies heavily on its obesity drug tirzepatide, marketed as Mounjaro for diabetes and Zepbound for weight loss. Lilly’s revenue is projected to more than double over the next few years, driven largely by its upcoming obesity pill orforglipron.
A key asset in the Ventyx deal is its NLRP3 portfolio—a group of mid-stage oral drugs targeting a protein involved in inflammation. Prior to this deal, NLRP3 inhibitors were not part of Lilly’s pipeline. Analysts at William Blair commented that Lilly’s move “demonstrates clear interest from big pharma in the NLRP3 inhibitor class to address a broad range of neuroinflammatory, cardiometabolic, and cardiovascular diseases.” They noted that this could have implications for other companies working on similar therapies.
Among the assets acquired is VTX3232, an oral drug designed to penetrate the central nervous system and being tested for Parkinson’s disease and cardiometabolic conditions. In October 2025, Ventyx reported that VTX3232 reduced high-sensitivity C-reactive protein levels—an indicator of inflammation—by about 80% in patients with obesity and cardiovascular risk factors. Another asset, VTX2735, targets the peripheral nervous system and is being studied for recurrent pericarditis.
Lilly will also acquire additional inflammatory bowel disease drugs from Ventyx: tamuzimod (an S1P1R modulator that has completed Phase II trials for ulcerative colitis) and VTX958 (a TYK2 blocker under investigation for Crohn’s disease).
In a separate agreement announced Wednesday, Lilly entered into a global partnership with InduPro—based in Seattle and Massachusetts—to develop new cancer treatments using bispecific and multispecific antibodies. According to both companies’ press release, this approach offers “improved safety, potency, and tumor selectivity.” The deal includes up to $950 million committed by Lilly across three targets as well as an undisclosed equity investment in InduPro.
These announcements follow another recent agreement between Lilly and Nimbus Therapeutics focused on developing an oral obesity drug. For $55 million upfront plus up to $1.3 billion in milestone payments, Lilly will work with Nimbus on preclinical candidates; their collaboration began in 2022 targeting metabolic diseases.
