Eli Lilly has committed up to $3.8 billion to expand into infectious disease research, acquiring three biotech companies, namely LimmaTech Biologics, Curevo and Vaccine Company, as part of its ongoing acquisition streak.
The company announced all three takeovers simultaneously on Tuesday. In a statement, Daniel Skovronsky explained that the acquisitions align with Lilly’s broader effort to stop diseases before they develop rather than focus only on treating their consequences.
Lilly agreed to pay as much as $1.5 billion, including an upfront payment and milestones, to acquire Curevo, a company developing a shingles vaccine. The deal positions Lilly to compete with GSK and its blockbuster shingles vaccine, Shingrix.
Curevo developed its vaccine candidate, amezosvatein, with the goal of improving tolerability compared to Shingrix. The biotech had identified side effects as a major factor preventing some people from initiating vaccination or completing the second dose of the standard two-shot regimen. To address this issue, Curevo incorporated a next-generation synthetic adjuvant into the vaccine.
In 2024, Curevo reported phase 2 trial results showing lower rates of both local and systemic adverse effects for amezosvatein compared with Shingrix. Although the company initially intended to begin phase 3 development in 2024, the timeline shifted after Curevo opted to enroll an additional 640 participants in a phase 2 extension study in 2025. Last year, the biotech secured $110 million to support this expanded trial.
Lilly’s acquisition of LimmaTech Biologics provides access to vaccine programs targeting bacterial pathogens. Valued at up to $780 million through upfront, clinical and regulatory milestone payments, the deal includes a lead vaccine candidate against Staphylococcus aureus infection currently in phase 1 development. Vaccines aimed at pathogens such as Staphylococcus aureus may help address growing concerns over antibiotic-resistant bacterial strains.
The acquisition of Vaccine Company could ultimately become the largest of the three transactions, with Lilly agreeing to pay up to $1.55 billion in upfront and milestone-based payments. In 2024, the company received support from the Advanced Research Projects Agency for Health to develop vaccines against flaviviruses, a virus family that includes West Nile virus infection, dengue fever and Zika virus disease.
Despite maintaining a relatively low public profile, Vaccine Company has been advancing a platform intended to generate long-lasting immune responses similar to virus-like particle vaccines while simplifying manufacturing. Its leading candidate is a five-antigen vaccine targeting the Epstein-Barr virus infection (EBV) that is set for a phase 1 trial.
Lilly highlighted the broader health impact of these programs, emphasizing their potential to prevent long-term complications linked to infectious diseases. Shingles has been associated with an increased risk of stroke, while EBV has been connected to conditions such as multiple sclerosis and several cancers. These links could strengthen both the medical and commercial rationale for vaccination programs at a time when vaccine manufacturers face increasing pressure.
While Lilly’s recent growth has largely centered on oncology, cardiometabolic disease, neuroscience and immunology, strong revenue from its GLP-1 products has allowed the company to re-enter infectious disease research through acquisitions. The strategy also follows Lilly’s appointment of Peter Marks to oversee infectious disease efforts earlier this year.
Lilly Expands Through Strategic Vaccine Acquisitions
Lilly has announced a major acquisition initiative valued at up to $3.8 billion, adding three vaccine-focused biotechnology companies to its growing portfolio.
A major pharmaceutical company has announced a deal worth up to $3.8 billion to acquire three vaccine-focused biotechnology firms, marking one of the most significant healthcare transactions of the year. The acquisitions are designed to strengthen research capabilities, broaden the development pipeline, and accelerate the creation of innovative vaccines for a range of diseases.
Growing Interest in Vaccine Technologies
The vaccine market has attracted substantial investment in recent years due to advancements in biotechnology and the increasing demand for rapid responses to emerging health threats. By acquiring specialized developers, large pharmaceutical organizations can gain access to cutting-edge platforms, experienced scientific teams, and promising early-stage candidates that may otherwise take years to develop internally.
What Comes Next for Lilly
Following the completion of the acquisitions, Lilly is expected to integrate the newly acquired teams and technologies into its broader research organization. The company will focus on advancing vaccine candidates through clinical development while leveraging its global resources to accelerate commercialization opportunities. The transaction reinforces Lilly’s strategy of combining internal research with targeted acquisitions to drive future innovation
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