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<a href="https://www.fiercebiotech.com/biotech/frenzied-feeding-playing-defense-and-disruption-lillys-kelonia-acquisition-and-future-vivo" hreflang="en">After Lilly’s $7B Kelonia deal, are there any in vivo CAR-T biotechs left to buy?</a>

fiercebiotech.com·Apr 24, 2026

Eli Lilly's $7 billion acquisition of Kelonia Therapeutics highlights the intense competition among pharmaceutical companies for in vivo CAR-T technologies, following several high-profile deals in the sector. However, experts predict a slowdown in future acquisitions due to a dwindling number of viable targets, with Umoja Biopharma being one of the few remaining options for potential buyers.

Eli Lilly's $7 billion acquisition of Kelonia Therapeutics highlights the high valuations and strong interest in the in vivo CAR-T space, driven by its potential to disrupt traditional CAR-T therapy. However, the pool of viable acquisition targets is shrinking, suggesting a slowdown in dealmaking. For investors and stakeholders, keeping an eye on remaining targets like Umoja Biopharma and emerging players in regions like China, such as Starna Therapeutics, could offer strategic opportunities as the landscape evolves.

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