Eli Lilly and Co. LLY, +3.36% has announced that it will purchase Versanis Bio. Versanis Bio is a clinical-stage private biopharmaceutical company focusing on developing new treatments for cardiometabolic disorders. Versanis has developed a monoclonal anti-body called bimagrumab, which is being tested alone and with popular weight loss drug semaglutide in order to further reduce fat while maintaining muscle. Versanis shareholders may receive up to $1.9 billion in cash under the terms of the agreement, depending on the upfront payment made and the achievement of certain sales and development milestones. Lilly’s shares rose 0.7% Friday morning in premarket trading.