Prevail acquisition affords Lilly an ‘entry point’ in gene therapy, with more deals likely to follow

In Prevail, Lilly found an M&A target with expertise in one of its core areas — neuroscience — that can also be a building block around which it expects to amass a gene therapy pipeline via more deals.

Eli Lilly and Co. (NYSE:LLY) said Tuesday it will acquire Prevail Therapeutics Inc. (NASDAQ:PRVL) for $22.50 in cash, or about $880 million, giving it clinical gene therapy programs targeting GBA1 and GRN for a total of three indications. The price is an 80% premium over Prevail’s close on Monday at $12.50...