Indianapolis-based Eli Lilly and Company is acquiring Pasadena, Calif.-based Protomer Technologies in a deal that may exceed $1 billion.
Protomer has a drug technology platform made up of proteins that can sense concentrations of specific molecules and adjust to create variable doses. This pipeline includes an insulin product that adjusts to different glucose levels in diabetic patients. The company was founded in 2014 by Caltech researchers led by Alborz Mahdavi. In November 2020, Lilly led an investment round that was supported by the JDRF T1D Fund. Early funding by JDRF T1D also included Paris-based Sanofi. The November 2020 round led to Lilly owning 14% of the company. Under the new deal, it is acquiring the rest of the stock.
In November 2020, Katie Ellias, managing director of the JDRF T1D Fund, said, “Protomer’s novel mechanism for glucose-responsive insulin is extremely promising and has the potential to be a game changer for people with type 1 diabetes.”
