Eli Lilly and Co (NYSE:LLY) has announced agreements to acquire three vaccine developers, Curevo, LimmaTech Biologics AG, and Vaccine Company, in transactions valued at up to $3.83 billion combined, as the company expands its research and development efforts into infectious disease prevention.
The deals mark a strategic push for Lilly into vaccine development, an area the company said aligns with its broader goal of addressing major global health challenges beyond its core diabetes and obesity portfolio, which has been a key driver of recent cash flow.
Lilly said the acquisitions will support investment in differentiated technology platforms focused on prevention rather than treatment.
Curevo’s lead candidate is amezosvatein, a shingles vaccine designed to improve tolerability compared with existing standard-of-care options.
In a Phase 2 head-to-head trial, the candidate demonstrated comparable immune responses across primary endpoints while showing more than a 50% reduction in certain side effects, including fatigue, chills, and injection-site pain. Under the terms of the agreement, Curevo shareholders could receive up to $1.5 billion in cash, including upfront and milestone-based payments.
LimmaTech Biologics is focused on vaccines targeting bacterial pathogens associated with rising antimicrobial resistance, including Staphylococcus aureus, Neisseria gonorrhoeae, and Chlamydia trachomatis.
Its lead program, LTB-SA7, is currently in Phase 1 development as a vaccine candidate for S. aureus, a leading cause of surgical-site infections. The deal for LimmaTech is valued at up to $780 million, including upfront and potential milestone payments tied to clinical and regulatory progress.
Vaccine Company is developing in vivo nanoparticle IVN technology intended to mimic virus-like particle immune responses without the manufacturing complexity of traditional approaches.
Its lead program targets Epstein-Barr Virus EBV and is expected to enter Phase 1 trials, with potential implications for conditions linked to infection, including multiple sclerosis and certain cancers. The transaction is valued at up to $1.55 billion, including upfront and milestone-based consideration.
Shares of Eli Lilly added 1.4% at about $1,079 on the news.