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- Merida Biosciences
Merida Biosciences Acquisition, Valuation, Funding & Investors
Merida Biosciences was acquired by Eli Lilly for $2.9B in August 2026.
Cumulative funding Merida Biosciences raised
$121M
across 1 funding round
Key investors in Merida Biosciences
GV
Bain Capital
Perceptive Advisors
Third Rock Ventures
Biotechnology Value Fund
About Merida Biosciences
Merida Biosciences is a biotechnology company based in Cambridge, Massachusetts that develops therapeutics for serious autoimmune and allergic diseases. Its platform uses protein engineering based on the Fc region of antibodies to selectively and durably eliminate pathogenic autoantibodies and suppress the B-cells that produce them, without broad immunosuppression. The lead program targets the autoantibodies that drive Graves' disease and is in IND-enabling studies, with additional programs addressing IgE-mediated allergic diseases and primary membranous nephropathy.
Founded
2022
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Licensing
Valuation
$2.9B (acquired Aug 2026)
Sectors
Merida Biosciences Acquisition
Merida Biosciences was acquired by Eli Lilly for $2.9B on 31 August 2026.
Before the acquisition Merida Biosciences had raised $121M across 1 funding round.
Eli Lilly agreed to acquire privately held Merida Biosciences for up to $2.875 billion in cash, with the consideration consisting of an upfront payment plus contingent milestone payments. The deal was announced on August 31, 2026 and is expected to close in the fourth quarter of 2026, subject to regulatory approvals and other customary closing conditions. The acquisition is designed to strengthen Eli Lilly’s immunology pipeline by adding Merida’s biotechnology platform for developing treatments targeting serious autoimmune and allergic diseases. The transaction fits Lilly’s broader strategy of expanding into immune-related therapies and allergy-focused drug development through bolt-on acquisitions. Merida Biosciences is a privately held biotechnology company based in Cambridge, Massachusetts, focused on advancing therapeutics for serious autoimmune and allergic diseases. It operates a platform intended to eliminate antibodies that drive those conditions.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 31 Aug 2026 | Strategic M&A | $2.9B |
Merida Biosciences Funding History
Merida Biosciences has raised a total of $121M across 1 funding round.
Merida Biosciences funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Apr 2025 | Series A | Bain Capital (lead); Biotechnology Value Fund (lead); Third Rock Ventures (lead); GV; Perceptive Advisors | $121M | Merida Biosciences launched on April 8, 2025, with $121 million in Series A financing co-led by Bain Capital Life Sciences, BVF Partners (Biotechnology Value Fund), and Third Rock Ventures, with participation from GV and Perceptive Xontogeny Venture Funds. The company, seeded by Third Rock Ventures in 2022, is developing a new class of precision Fc biotherapeutics designed to selectively and durably eliminate pathogenic autoantibodies and target B-cells in autoimmune and allergic diseases without broad immunosuppression. Its lead candidate targets Graves’ disease autoantibodies and is in IND-enabling studies, with additional programs in IgE-mediated allergic diseases and primary membranous nephropathy in preclinical proof-of-concept. Merida's platform leverages protein engineering based on the Fc region of antibodies to mark harmful autoantibodies for liver degradation and suppress their production by B-cells. The leadership team includes CEO Adam Townsend, formerly COO at Apellis Pharmaceuticals, co-founder and CSO Dario Gutierrez, Ph.D., from Third Rock Ventures, and other executives with experience in biopharma operations, medicine, and development. The company aims to address root causes of diseases like Graves’, food allergies, and primary membranous nephropathy, positioning itself in the competitive immunology and inflammation field alongside startups like Hillstar Bio. The financing will support advancement of its pipeline, including Graves’ disease program towards clinical stages, with no disclosed revenue, valuation, or financial metrics beyond the $121 million raised. Merida emerged from stealth with a strong investor syndicate bringing expertise in drug discovery, development, and commercialization. |
Who has invested in Merida Biosciences?
5 investors have backed Merida Biosciences across its funding rounds, including GV, Bain Capital, Perceptive Advisors, Third Rock Ventures and Biotechnology Value Fund.
Lead investors include Bain Capital, Biotechnology Value Fund and Third Rock Ventures.
Merida Biosciences Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Apr 2025 | ||
| 1 | Lead | Apr 2025 | ||
| 1 | Lead | Apr 2025 | ||
This data is available for Pro users. Sign up to see all 5 Merida Biosciences investors. Start Free Trial | ||||
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 TrialMerida Biosciences Competitors
Merida Biosciences competitors include listed companies like BioArctic, Precigen, Betta Pharmaceuticals and Zealand Pharma, and private ones like Heyuan Biotechnology and NewLimit.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $204M | $126M | $2.9B | 15.2x | ||
| Publicly listed | $10M | ($247M) | $2.8B | 17.0x | ||
| Publicly listed | $538M | $155M | $2.9B | 5.5x | ||
| Publicly listed | $1.4B | $1B | $2.9B | 0.7x | ||
| Private | - | - | $3B | - | ||
| Private | - | - | $3.1B | - |
Merida Biosciences Public Comps
Merida Biosciences is no longer listed, but its public comps include BioArctic, Precigen, Betta Pharmaceuticals, Zealand Pharma, Regencell Bioscience, Samchundang Pharm, Kangmei Pharmaceutical Co., Virbac, AtaiBeckley and Neuland Laboratories.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $204M | $126M | 13.2x | 15.2x | 21.3x | 34.8x | |||
| $10M | ($247M) | 297.2x | 17.0x | (11.7x) | 39.5x | |||
| $538M | $155M | 6.0x | 5.5x | 20.9x | 16.8x | |||
| $1.4B | $1B | 0.5x | 0.7x | 0.6x | 1.3x | |||
| - | ($3M) | - | - | (923.4x) | - | |||
| $169M | $15M | 16.7x | - | 184.7x | - | |||
| $783M | $54M | 3.3x | - | 48.0x | - | |||
| $1.7B | $325M | 1.9x | 1.8x | 9.9x | 9.0x | |||
This data is available for Pro users. Sign up to see all Merida Biosciences competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Merida Biosciences
| When was Merida Biosciences founded? | Merida Biosciences was founded in 2022. |
| Where is Merida Biosciences headquartered? | Merida Biosciences is headquartered in United States. |
| Is Merida Biosciences publicly listed? | No, Merida Biosciences was acquired by Eli Lilly in August 2026. |
| Who acquired Merida Biosciences? | Merida Biosciences was acquired by Eli Lilly in August 2026. |
| How much was Merida Biosciences acquired for? | Merida Biosciences was acquired for $2.9B in August 2026. |
| How much funding has Merida Biosciences raised? | Merida Biosciences has raised $121M across 1 funding round. |
| What was Merida Biosciences' last funding round? | Merida Biosciences' last funding round was a $121M Series A in April 2025, led by Bain Capital, Biotechnology Value Fund and Third Rock Ventures. |
| Who are Merida Biosciences' investors? | Merida Biosciences' investors include GV, Third Rock Ventures, Biotechnology Value Fund, Bain Capital and Perceptive Advisors. |
| Which companies are comparable to Merida Biosciences? | Companies comparable to Merida Biosciences include BioArctic, Precigen, Betta Pharmaceuticals, Zealand Pharma, Heyuan Biotechnology and NewLimit. |
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