Lilly Nearing $1 Billion Deal With Biotech Ventyx, WSJ Says (2)

Eli Lilly & Co. is in advanced talks to acquire Ventyx Biosciences Inc. for more than $1 billion to expand its work in immunology, according to a report in the Wall Street Journal.

Ventyx shares rose 69% in US premarket trading to $17.02. At that price, the San Diego-based biotech that specializes in drugs for inflammatory diseases like Crohn’s and rheumatoid arthritis is set to add about $500 million to its market capitalization.

Reports of the Ventyx deal come as the pharmaceutical industry prepares for the annual JPMorgan Healthcare Conference in San Francisco, a known hotbed for dealmaking activity.

Lilly ...