On January 7, 2026, Eli Lilly and Company announced that it has entered into a definitive agreement to acquire Ventyx Biosciences, Inc., a San Diego-based clinical-stage biopharmaceutical company focused on developing innovative oral therapies for patients with inflammatory-mediated diseases. Under the terms of the agreement, Lilly will acquire all the outstanding shares of Ventyx in an all-cash transaction, valuing at approximately $1.2 billion. Wilson Sonsini is advising Ventyx on the transaction.

Ventyx is developing a pipeline of small molecule therapeutics designed to treat inflammation across a broad range of disease states with high unmet need. The company's clinical-stage programs target key immune pathways with the goal of offering improved efficacy and safety compared to existing treatments.

The Wilson Sonsini team that advised Ventyx on the transaction included:

Mergers & Acquisitions
Robert Ishii
Ross Tanaka
Orlando Hodges
Robert Gunn
Jessica Li

Corporate
Martin Waters
Phillip McGill
Rob Wernli
Brandon Shaw
Dante Matera

Technology Transactions
Miranda Biven
Colin Bosch
Christina Fuleihan
Isaiah Loya
Taylore Williams
Frederick Philantrope
Gopika Mesrobian

Data, Privacy, and Cybersecurity
Matthew Staples
Michael O’Brien
Kimia Favagehi

Employee Benefits and Compensation
Megan Schilling
Jason Chan
Laura Yun

Employment Litigation
Matt Gorman
Kelsey Sutton

Tax
Jonathan Zhu
Joy Cheng
Rob Sherrill

Antitrust and Competition
Jamillia Ferris
Michelle Yost Hale
Deirdre Carroll
Kimberley Biagioli
Rohena Rajbhandari

Regulatory
Stephen Heifetz
Eva Yin
Anne Seymour
Seth Cowell
Grace Beck

Real Estate
James McCann
Martin Sul
Moncarol Wang

Patents and Innovations
Ingo Hardt
Jim Malecha

For more information, please see Eli Lilly’s press release.