Eli Lilly on July 14 completed its acquisition of Protomer Technologies, a biotech that engineers peptides and proteins.
The drugmaker said the deal's potential value is over $1 billion.
Founded in 2015, Pasadena, Calif.-based Protomer has built a portfolio of therapeutic candidates, with glucose-responsive insulins being chief among them.
"Glucose-sensing insulin is the next frontier and has the potential to revolutionize the treatment and quality of life of people with diabetes by dramatically improving both therapeutic efficacy and safety of insulin therapy," Ruth Gimeno, PhD, Eli Lilly's vice president of diabetes research and clinical investigation said in a news release. "Protomer's glucose-sensing insulin program, based on its proprietary molecular engineering of protein sensors platform, is showing significant promise and Lilly is excited to enhance our diabetes pipeline with the company's innovative technology."