Eli Lilly Inks ~2.5B Deal to Acquire Scorpion Therapeutics
Shots:
- Eli Lilly to acquire Scorpion, plus its leading asset STX-478, for ~2.5B in cash, incl. upfront, regulatory & sales milestones through a definitive agreement
- As per the terms, Scorpion will form an independent company owned by its current shareholders with Lilly’s minority stake to hold its employees & non-PI3Kα pipeline assets
- STX-478 (oral, QD) inhibits mutated PI3Kα forms & is currently subjected to P-I/II studies for the treatment of HR+ve breast cancer & other advanced solid tumors
Ref: Eli Lilly | Image: Scorpion Therapeutics
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