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- Kelonia Therapeutics
Kelonia Therapeutics Acquisition, Valuation, Funding & Investors
Kelonia Therapeutics was acquired by Eli Lilly for $3.3B in April 2026.
Cumulative funding Kelonia Therapeutics raised
$50M
across 1 funding round
Key investors in Kelonia Therapeutics
Venrock
Horizons Ventures
Alta Partners
About Kelonia Therapeutics
Kelonia Therapeutics is a Boston-headquartered biotech firm engineering lentiviral vector platforms for in vivo gene delivery. The technology targets liver, muscle, and CNS tissues for therapies against rare genetic disorders like Pompe disease and Duchenne muscular dystrophy. Founded in 2022 with seed funding from ARCH Venture Partners, it advances preclinical candidates toward IND filings.
Founded
2017
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Valuation
$3.3B (acquired Apr 2026)
Kelonia Therapeutics Acquisition
Kelonia Therapeutics was acquired by Eli Lilly for $3.3B on 19 April 2026.
Before the acquisition Kelonia Therapeutics had raised $50M across 1 funding round.
Eli Lilly agreed to acquire Kelonia Therapeutics, a Boston-based biotech firm, in a transaction valued at up to $7 billion. The deal structure includes $3.25 billion upfront and up to $3.75 billion in milestone payments contingent on clinical and regulatory achievements, with closing expected in the second half of 2026. The acquisition bolsters Eli Lilly's oncology pipeline through Kelonia's in vivo CAR-T therapy platform, which reprograms patient T-cells directly inside the body for cancer treatment. This marks Eli Lilly's fourth biotech acquisition in 2026, following Ventyx Biosciences for $1.2 billion in January, Orna Therapeutics for up to $2.4 billion in February, and Centessa Pharmaceuticals for up to $7.8 billion in March, amid efforts to diversify beyond weight-loss medicines amid record revenue from those products. Kelonia Therapeutics develops genetic therapies for cancer and other disorders using its in vivo CAR-T technology. The company, venture-backed, represents one of the largest such acquisitions in recent years.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 19 Apr 2026 | Strategic M&A | $3.3B |
Kelonia Therapeutics Funding History
Kelonia Therapeutics has raised a total of $50M across 1 funding round.
Kelonia Therapeutics funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Apr 2022 | Series A | Alta Partners (lead); Horizons Ventures (lead); Venrock (lead) | $50M | Kelonia Therapeutics, a Boston-based biotech company founded in 2020, launched with a $50 million Series A funding round on April 28, 2022, led by Alta Partners, Horizons Ventures, Venrock, and others. The company develops in vivo gene delivery platforms for genetic medicines targeting immunology and oncology, including CAR-T cell therapies for diseases like multiple myeloma using its in vivo Gene Placement System (iGPS) technology. The funding supports research advancement, strategic collaborations such as with Adimab for tissue-specific antibodies, and progression toward clinical studies. The team behind Kelonia has prior experience commercializing cell therapies, including Abecma, the first FDA-approved anti-BCMA CAR-T for relapsed/refractory multiple myeloma. Kelonia's approach aims to enable durable in vivo genetic modifications without ex vivo manufacturing, addressing limitations in current gene editing, RNA expression, or viral integration methods. The company focuses initially on solid tumors and hematologic cancers, with ambitions to expand genetic medicines broadly. Post-Series A, Kelonia raised additional capital, including a Seed VC round around January 2020 and a $40 million Corporate Minority round from Xyphos Biosciences on February 16, 2024, bringing total funding to $90 million across three rounds. Recent developments include dosing the first patient in the Phase 1 inMMyCAR study for KLN-1010, an in vivo CAR-T candidate for relapsed/refractory multiple myeloma, and presenting preclinical data at AACR 2024. |
Who has invested in Kelonia Therapeutics?
3 investors have backed Kelonia Therapeutics across its funding rounds, including Venrock, Horizons Ventures and Alta Partners.
Lead investors include Alta Partners, Horizons Ventures and Venrock.
Kelonia Therapeutics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Apr 2022 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialKelonia Therapeutics Competitors
Kelonia Therapeutics competitors include listed companies like Arcus Biosciences, Hypera, Jiangsu Nhwa and Denali Therapeutics, and private ones like Sinovac Life Sciences and Cytovant.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $3.3B | - | ||
| Private | - | - | $3.3B | - | ||
| Publicly listed | $247M | ($376M) | $3.3B | 21.1x | ||
| Publicly listed | $1.5B | $430M | $3.2B | 2.6x | ||
| Publicly listed | $881M | $202M | $3.3B | 2.9x | ||
| Publicly listed | - | ($541M) | $3.2B | 91.5x |
Kelonia Therapeutics Public Comps
Kelonia Therapeutics is no longer listed, but its public comps include Arcus Biosciences, Hypera, Jiangsu Nhwa, Denali Therapeutics, Arcutis Biotherapeutics, Hebei Changshan, Dyne Therapeutics, Walvax Biotechnology, Tianjin Pharma and Tasly.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $247M | ($376M) | 10.8x | 21.1x | (7.1x) | (6.5x) | |||
| $1.5B | $430M | 2.9x | 2.6x | 10.2x | 8.3x | |||
| $881M | $202M | 3.1x | 2.9x | 13.5x | 13.3x | |||
| - | ($541M) | - | 91.5x | (4.7x) | (5.2x) | |||
| $376M | ($6M) | 8.5x | 6.5x | (501.3x) | 42.3x | |||
| $130M | ($28M) | 27.0x | - | (123.7x) | - | |||
| - | ($468M) | - | - | (5.8x) | (4.5x) | |||
| $361M | $73M | 9.0x | 10.8x | 44.5x | 36.9x | |||
This data is available for Pro users. Sign up to see all Kelonia Therapeutics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Kelonia Therapeutics
| When was Kelonia Therapeutics founded? | Kelonia Therapeutics was founded in 2017. |
| Where is Kelonia Therapeutics headquartered? | Kelonia Therapeutics is headquartered in Boston, MA, United States. |
| Is Kelonia Therapeutics publicly listed? | No, Kelonia Therapeutics was acquired by Eli Lilly in April 2026. |
| Who acquired Kelonia Therapeutics? | Kelonia Therapeutics was acquired by Eli Lilly in April 2026. |
| How much was Kelonia Therapeutics acquired for? | Kelonia Therapeutics was acquired for $3.3B in April 2026. |
| How much funding has Kelonia Therapeutics raised? | Kelonia Therapeutics has raised $50M across 1 funding round. |
| What was Kelonia Therapeutics' last funding round? | Kelonia Therapeutics' last funding round was a $50M Series A in April 2022, led by Alta Partners, Horizons Ventures and Venrock. |
| Who are Kelonia Therapeutics' investors? | Kelonia Therapeutics' investors include Alta Partners, Venrock and Horizons Ventures. |
| Which companies are comparable to Kelonia Therapeutics? | Companies comparable to Kelonia Therapeutics include Sinovac Life Sciences, Cytovant, Arcus Biosciences, Hypera, Jiangsu Nhwa and Denali Therapeutics. |
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