IN BRIEF: Biotech Growth says AtaiBeckley set for Eli Lilly takeover
Biotech Growth Trust PLC - London-based investment trust - Eli Lilly & Co intends to acquire portfolio company AtaiBeckley Inc for approximately USD2.8 billion, or USD6.75 per share, in cash. This represents a 26% premium to AtaiBeckley's closing price on Wednesday. The offer also includes up to USD1 billion in contingent value rights linked to development and regulatory milestones, taking the potential value to USD3.8 billion, or USD9.25 per share, a 73% premium. AtaiBeckley is a clinical-stage biotechnology company focused on developing drugs to treat psychiatric disorders. BIOG says its AtaiBeckley holding accounted for 1.1% of its net asset value at the time of the announcement, and the transaction will be reflected in its Thursday NAV. Says this deal is the latest in a series of successful portfolio takeovers this year. Most recently, in May, French private equity firm ArchiMed SAS agreed to acquire investee Esperion Therapeutics.
"[AtaiBeckley's] lead programme, BPL-003, has shown encouraging progress and results and has the potential to offer a differentiated treatment option for patients with treatment-resistant depression," notes Geoff Hsu of OrbiMed Capital LLC, BIOG's portfolio manager.
Hsu continues: "Eli Lilly's acquisition represents another successful outcome for BIOG and further validates our investment strategy. We continue to focus on identifying innovative biotechnology companies capable of delivering important new medicines and creating substantial value for shareholders, whether through clinical success, commercial execution or strategic transactions such as this."
Current stock price: 1,581.60 pence
12-month change: up 97%
By Emma Curzon, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2026 Alliance News Ltd. All Rights Reserved.
The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
3 Stocks to Sell and 3 Stocks to Buy for November
3 of the Best Dividend Stocks to Own
The 10 Best Companies to Invest in Now
This Once-Hot AI Stock Now Looks Deeply Undervalued
United States