Private Equity 8 Hours

Last updated: April 20, 2026, 11:30 PM ET

Healthcare & Biotech M&A Activity

Eli Lilly announced plans to acquire gene therapy developer Kelonia Therapeutics in a substantial transaction valued up to $7 billion in cash, marking one of the largest funded biotech startup purchases seen in recent years, particularly for an oncology focus area. This aggressive move by the pharmaceutical giant signals sustained private equity-style interest in platform technologies addressing cancer treatment modalities. Separately, Acorn Capital confirmed its intent to purchase MTI Aviation, citing the aerospace firm as a "compelling platform" aligned with its strategy of investing in highly differentiated defense businesses poised for strong growth, demonstrating PE focus shifting toward specialized industrial assets Acorn Capital confirmed. Meanwhile, tech portfolio company Lovable denied any claims related to a mass data breach, attempting to reassure investors regarding data security vulnerabilities that could impact valuation multiples Lovable denied.