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Deals Report: Two pharmas license neuro assets, and M&A momentum continues


Plus: Galapagos-Adaptimmune enter TCR T cell deal, and digital therapeutics pioneer Akili opts for merger

By Selina Koch, Executive Editor, and Gunjan Ohri, Data Content Analyst

June 4, 2024 1:28 AM UTC

In addition to multiple $1 billion-plus M&A deals already reported by BioCentury, last week brought two pharma deals for neurodegeneration therapies.

Eli Lilly and Co. (NYSE:LLY) agreed to pay $45 million up front and make an equity investment in QurAlis Corp. to gain access to a preclinical antisense therapy for amyotrophic lateral sclerosis and frontotemporal dementia. The deal underscores the inroads genetic medicines are beginning to make into severe neurodegenerative diseases that have so far been intractable. QRL-204 is a splice-switching therapy designed to correct the UNC13A mis-splicing that occurs in up to 63% of ALS patients and one third of FTD patients. The size of the equity investment was undisclosed, but the deal is worth at least $622 million between the upfront cash and milestones…