(Reuters) – Drugmaker Eli Lilly and Co will acquire genetic medicine developer Akouos Inc in a cash deal worth about $487 million.
Lilly will also pay Akouos’ shareholders an additional amount contingent on certain events related to its trials, which will take the total size of the deal to up to $610 million.
(This story has corrected paragraph 2 to say the deal would be valued at $610 million on achieving certain milestones, not that milestone-based payments are valued at $610 million.)
(Reporting by Leroy Leo in Bengaluru; Editing by Shinjini Ganguli)
