LONDON (ShareCast) - (Sharecast News) - Eli Lilly has bought biotechnology firm Protomer Technologies in a deal valued at more than $1bn.
The US pharmaceutical company- which already owns 14% of Protomer - has bought the remaining shares. Protomer's proprietary peptide- and protein-engineering platform is used to identify and synthesize molecules that can sense glucose or other endogenous modulators of protein activity.

Ruth Gimeno, vice president of diabetes research and clinical investigation at Lilly, said: "Lilly has long strived to make life better for people living with diabetes and we have a continued determination to provide real solutions, including innovation in insulin therapy.

"Glucose-sensing insulin is the next frontier and has the potential to revolutionize the treatment and quality of life of people with diabetes by dramatically improving both therapeutic efficacy and safety of insulin therapy."

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