Pharmaceutical company Eli Lilly and Company (NYSE:LLY) announced on Wednesday that it has signed a definitive agreement to acquire Ventyx Biosciences Inc (Nasdaq:VTYX), a clinical-stage biopharmaceutical company focused on developing innovative oral therapies for patients with inflammatory-mediated diseases.

Under the terms of the agreement, Lilly will acquire all outstanding shares of Ventyx for USD14.00 per share of common stock in an all-cash transaction equal to an aggregate equity value of around USD1.2bn. The deal is not subject to any financing condition and is expected to be completed in the first half of 2026, subject to approval by Ventyx stockholders and satisfaction of other customary closing conditions, including regulatory clearance.

The purchase price payable at closing represents a premium of approximately 62% to the 30-day volume-weighted average trading price of Ventyx's common stock at 5 January 2026.

Both boards of directors have approved the transaction.