Akouos Acquired by Eli Lilly in $487M Hearing Loss Gene Therapy Deal

Precision medicine biotech Akouos and its late pre-clinical stage lead program AK-OTOF, a hearing loss-treating gene therapy, are being acquired by American pharma giant Eli Lilly for just under half a billion dollars in cash. Lilly is set to absorb all outstanding Akouos shares at a per-share price of $12.50 for a 121% premium on the company’s volume-weighted monthly average trading price...