Eli Lilly Buys Kelonia

Kelonia is developing 'in vivo CAR-T' therapy, which aims to reprogram a patient's immune cells inside their body to attack cancer.

This approach could eliminate the need for complex and expensive laboratory processing required by current treatments.

The acquisition is the latest in a series of multi-billion dollar investments by Eli Lilly to bolster its oncology pipeline.

The transaction is expected to close by the end of the year, pending regulatory approval.