Eli Lilly buys biopharmaceutical Versanis for $1.925 billion

American Eli Lilly and Co. agreed to buy biopharmaceutical Versanis Bio for up to $1.925 billion The transaction will be paid for in cash, and its final amount depends on the achievement of certain goals in the areas of development and sales. The timing of its closure has not been announced.

Versanis develops drugs for the treatment of cardiometabolic diseases, including those intended for people who are overweight or obese.

One of Versanis' drugs, bimagrumab, when combined with metabolic hormones, has the potential to further reduce fat mass while maintaining lean muscle mass.