On June 29, 2023 Heidelberg Pharma AG (FSE: HPHA) reported that Eli Lilly and Company will purchase the shares in Emergence Therapeutics AG, Duisburg, Germany, (Emergence), including shares from the conversion of the Emergence convertible bonds, that are held by its subsidiary Heidelberg Pharma Research GmbH as part of Eli Lilly and Company’s acquisition of all of the outstanding shares of Emergence (Press release, Eli Lilly, JUN 29, 2023, View Source [SID1234639896]).

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As a result of the transaction, Heidelberg Pharma expects a cash inflow of about USD 7 million in 2023. If defined guarantees are fulfilled and depending on clinical and regulatory milestones further inflows of up to USD 5 million are possible.