Eli Lilly has announced a definitive agreement to acquire ARMO BioSciences for US$50 per share, or approximately US$1.6 B in an all-cash transaction. ARMO’s lead candidate is pegilodecakin, a PEGylated recombinant form of interleukin-10 that activates antitumour CD8+ T-cells. Just days later, Lilly announced the smaller acquisition of AurKa Pharma for an upfront payment of US$110 M, to access AK-01, an Aurora A kinase inhibitor which was originally discovered at Lilly.