Eli Lilly and Company has completed the acquisition of Morphic Holding, Inc.

Morphic is a biopharmaceutical company developing oral integrin therapies for the treatment of serious chronic diseases, including a selective oral small molecule inhibitor of α4β7 integrin (known as MORF-057) for inflammatory bowel disease (IBD).

"We are committed to exploring innovative approaches for immunologic diseases and believe Morphic's pipeline holds promise in improving outcomes and expanding treatment options for people with devastating conditions like IBD," said Daniel Skovronsky, MD, PhD, chief scientific officer of Lilly and president, Lilly Research Laboratories and Lilly Immunology.

"Acquiring Morphic reinforces our growing capabilities in gastroenterology, building on the strong foundation of Omvoh, our first-in-class molecule already approved and launched around the world for ulcerative colitis and under regulatory review for Crohn's disease. Further, the acquisition allows Lilly to research potential combination treatments that could better serve people beyond what is possible with currently available medicines," Skovronsky added.

Following the completion of the tender offer, Lilly completed the acquisition of Morphic through the previously planned second-step merger. Morphic's common stock will be delisted from The Nasdaq Global Market.

For Lilly, Citi is acting as the exclusive financial advisor and Kirkland & Ellis LLP is acting as legal counsel.