Shots:
- Eli Lilly has entered into a definitive agreement to acquire Centessa Pharmaceuticals incl. its asset cleminorexton & ORX142, expanding Lilly’s neuroscience portfolio & capabilities into sleep medicine
- As per the deal, Lilly will acquire all issued & to-be-issued share capital of Centessa (incl. ADSs) for $38/share in cash (~$6.3B upfront), plus a non-transferable CVR of ~$9/share (~$1.5B)
- CVR holders will receive $2/CVR upon FDA approval of cleminorexton (ORX750) or ORX142 for narcolepsy type 2 within 5yrs., $5/CVR upon FDA approval for idiopathic hypersomnia within 5yrs., & $2/CVR for first approval in any indication before Jan 1, 2030, subject to milestone achievement; closing expected in Q3’26
Ref: Eli Lilly | Image: Centessa | Press Release
Related News: Insilico Medicine and Eli Lilly Sign ~$2.75B Multi-Program AI-Driven Drug Discovery Collaboration
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