Merida Biosciences Acquisition, Valuation, Funding & Investors

Merida Biosciences was acquired by Eli Lilly for $2.9B in August 2026.

Merida Biosciences acquisition price

$2.9B

Acquired by Eli Lilly · Aug 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

Merida Biosciences Overview

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

United StatesUnited States

Status

Acquired

Customer focus

B2B

Revenue model

Licensing

Valuation

$2.9B (acquired Aug 2026)

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.

Merida Biosciences acquisition details
AcquirerDateTypePrice
31 Aug 2026Strategic M&A$2.9B

Merida Biosciences Funding History

Merida Biosciences has raised a total of $121M across 1 funding round.

Merida Biosciences funding rounds

Merida Biosciences funding rounds
DateStageInvestorsRaisedDeal Summary
Apr 2025Series ABain Capital (lead); Biotechnology Value Fund (lead); Third Rock Ventures (lead); GV; Perceptive Advisors$121MMerida 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

Investors in Merida Biosciences by funding rounds participated
InvestorHQRoundsRoleFirst check
GVUnited StatesSan Francisco, CA1ParticipantApr 2025
Third Rock VenturesUnited StatesBoston, MA1LeadApr 2025
Biotechnology Value FundUnited StatesSan Francisco, CA1LeadApr 2025

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Merida Biosciences Competitors

Merida Biosciences competitors include listed companies like BioArctic, Precigen, Betta Pharmaceuticals and Zealand Pharma, and private ones like Heyuan Biotechnology and NewLimit.

Public and private companies comparable to Merida Biosciences
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BioArcticSwedenSwedenPublicly listed$204M$126M$2.9B15.2x
PrecigenUnited StatesUnited StatesPublicly listed$10M($247M)$2.8B17.0x
Betta PharmaceuticalsChinaChinaPublicly listed$538M$155M$2.9B5.5x
Zealand PharmaDenmarkDenmarkPublicly listed$1.4B$1B$2.9B0.7x
Heyuan BiotechnologyChinaShanghaiPrivate--$3B-
NewLimitUnited StatesSan Francisco, CAPrivate--$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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
BioArctic$204M$126M13.2x15.2x21.3x34.8x
Precigen$10M($247M)297.2x17.0x(11.7x)39.5x
Betta Pharmaceuticals$538M$155M6.0x5.5x20.9x16.8x
Zealand Pharma$1.4B$1B0.5x0.7x0.6x1.3x
Regencell Bioscience-($3M)--(923.4x)-
Samchundang Pharm$169M$15M16.7x-184.7x-
Kangmei Pharmaceutical Co.$783M$54M3.3x-48.0x-
Virbac$1.7B$325M1.9x1.8x9.9x9.0x

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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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