
Eli Lilly to buy Scorpion Therapeutics for up to 2.5 bln usd
(Il Sole 24 Ore Radiocor) - Milano, 13 gen - Eli Lilly said it had agreed to buy cancer therapy developer Scorpion Therapeutics in a deal worth up to 2.5 billion dollars in cash.
Lilly said it would acquire Scorpion's experimental oral therapy program STX-478 which is currently being evaluated in a Phase 1/2 clinical trial for breast cancer and other advanced solid tumors.
Under the terms of the agreement, Lilly will acquire Scorpion and Scorpion shareholders could receive up to 2.5 billion in cash, Lilly said in a statement.
"Additionally, as part of the transaction, Scorpion will spin out a new entity to hold its employees and non-PI3K pipeline assets," it said.
Scorpion Therapeutics is a private biotechnology company.
developing small molecule precision oncology therapies.
(RADIOCOR) 13-01-25 19:30:44 (0558) 5 NNNN