Eli Lilly acquires Kelonia Therapeutics for up to $7B to advance in vivo CAR-T therapy KLN-1010 for multiple myeloma. Early data shows promise in simplifying treatment.
Written By: Samiksha Jadhav, BPharm
Reviewed By: Pharmacally Editorial Team
Eli Lilly and Company announced a definitive agreement to acquire Kelonia Therapeutics, Inc., a clinical-stage biotechnology company developing in vivo gene delivery technology. The deal aims to integrate Kelonia’s proprietary platform into Lilly’s oncology portfolio.
Acquisition Details
Lilly will pay Kelonia shareholders up to $7.00 billion in cash. This includes an upfront payment of $3.25 billion, plus additional payments tied to clinical, regulatory, and commercial milestones. The transaction awaits customary closing conditions, including regulatory approvals, with closure expected in the second half of 2026. Lilly will apply Generally Accepted Accounting Principles (GAAP) to determine accounting treatment upon closing.
Kelonia’s Technology and Lead Program
Kelonia’s in vivo gene placement system (iGPS®) uses engineered lentiviral-based particles. These particles target T-cells inside the body to produce chimeric antigen receptor T-cell (CAR-T) therapies without ex vivo manufacturing or pre-administration chemotherapy.
The lead candidate, KLN-1010, is a one-time intravenous gene therapy that generates anti-B-cell maturation antigen (BCMA) CAR-T cells. BCMA sits on the surface of multiple myeloma cells. Early clinical data, presented at the 2025 American Society of Hematology Annual Meeting plenary session, showed promising tolerability and initial validation.
Strategic Rationale and Statements
Autologous CAR-T therapies improve cancer outcomes but face manufacturing, safety, and access barriers, limiting patient reach. Kelonia’s platform offers an off-the-shelf alternative.
Jacob Van Naarden, executive vice president and president of Lilly Oncology and head of corporate business development, stated: “Kelonia’s in vivo platform has the potential to change that by delivering rapid, durable responses in a far simpler, off-the-shelf format. The early clinical data for KLN-1010 are highly encouraging, both as a potential step forward for patients with multiple myeloma and as proof of concept for Kelonia’s platform.”
Kevin Friedman, Ph.D., CEO of Kelonia, added: “We have demonstrated the ability to achieve deep multiple myeloma remissions with significantly reduced complexity and cost relative to ex vivo CAR T-cell approaches.
In combination with Lilly’s strengths, our in vivo iGPS platform is positioned to broaden the reach of cell therapy beyond the current CAR-T landscape in hematologic malignancies and to transform treatment across a far wider range of cancers and other serious diseases.”
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About the Writer
Samiksha Vikram Jadhav is a B.Pharm graduate with a strong academic foundation in pharmaceutical sciences, pharmacology, and drug development. She has a keen interest in healthcare advancements, clinical research, medical writing, and emerging therapies. Her work focuses on presenting developments in the pharmaceutical and healthcare sectors through clear and accurate scientific communication.