Eli Lilly (LLY.US) has confirmed its agreement to acquire Ventyx Biosciences (VTYX.US) for $14 per share in cash. According to a statement released on Wednesday, the total equity value of the transaction is approximately $1.2 billion. The deal is not subject to any financing conditions and is expected to be completed in the first half of this year. Bank of America Securities served as the exclusive financial advisor to Eli Lilly, while Jefferies acted as the lead financial advisor to Ventyx. Headquartered in San Diego, Ventyx focuses on the research and development of drugs for inflammatory diseases such as Crohn's disease and rheumatoid arthritis; Eli Lilly's acquisition aims to expand its business in the field of immunology. Eli Lilly stated that immunology is a key growth area for the company, which hopes to further expand its operations on the foundation of its significant successes in the diabetes and obesity treatment sectors. These successes have attracted the attention of both investors and patients. The company currently markets several drugs for inflammatory diseases, including arthritis and psoriasis, such as Taltz; however, the key patent protection for Taltz is set to expire in the coming years. Concurrently, the company is seeking acquisitions to bolster its product pipeline. In 2024, the company acquired Morphic Therapeutics for $3.2 billion, gaining an experimental drug for treating inflammatory bowel disease. Furthermore, the company spent $2.4 billion to acquire Dice Therapeutics, a company developing oral treatments for psoriasis.