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HomeStartup NewsEli Lilly and Company Acquired POINT Biopharma Global Inc.

Eli Lilly and Company Acquired POINT Biopharma Global Inc.

Eli Lilly and Company acquired POINT Biopharma Global Inc., a radiopharmaceutical business with a pipeline of radioligand therapies in development for the treatment of cancer at the clinical and preclinical stages.

Eli Lilly and Company acquired POINT Biopharma Global Inc., a radiopharmaceutical business with a pipeline of radioligand therapies in development for the treatment of cancer at the clinical and preclinical stages.

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Jacob Van Naarden, executive vice president and president, Loxo@Lilly said, “Next generation radioligand therapies hold great promise for delivering meaningful advances against a range of cancers and we are excited to enter this space through the addition of POINT, We welcome POINT colleagues to Lilly and look forward to working together to build on their work as we create this new capability within Lilly. In time, I hope we can bring several new radioligand therapies to patients with cancer and improve their outcomes.”

Lilly’s tender offer for the purchase of all of POINT’s issued and outstanding common stock for $12.50 per share in cash, with no interest and no withholding of any applicable taxes, expired on December 22, 2023, as planned, at 5:00 p.m. Eastern time. The offer was not extended.

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Lilly has been notified by Computershare Trust Company, N.A., the tender offer’s depositary and paying agent, that as of the offer’s expiration, 72,788,215 shares—or roughly 67.97% of the issued and outstanding shares—had been validly tendered and had not been improperly withdrawn.

These shares are eligible for payment and will be purchased as soon as possible in line with the tender offer’s conditions. Lilly completed the acquisition of POINT through the previously scheduled second-step merger after the tender offer was completed. The NASDAQ Capital Market will delist POINT’s common stock.

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About Lilly

Lilly creates medications that improve people’s lives all around the world by fusing compassion and research. For almost 150 years, we have been at the forefront of life-altering discoveries, and today, their medications benefit over 51 million people worldwide.

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About POINT Biopharma

POINT Biopharma creates cutting-edge radioligand therapies to treat cancer. A precision oncology company that specialises only in radiopharmaceuticals is called POINT Biopharma. Their mission is to create and continuously enhance best-in-class therapies. They accomplish this by enabling their team to be innovators from neutron to patientTM.

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