Eli Lilly and Company (NYSE: LLY) and Scorpion Therapeutics, Inc. (“Scorpion”), a private biotechnology company developing small molecule precision oncology therapies, announce a definitive agreement for Lilly to acquire Scorpion’s PI3Kα inhibitor program STX-478. STX-478 is a once-daily oral, mutant-selective PI3Kα inhibitor 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, inclusive of an upfront payment and subsequent payments upon achievement of certain regulatory and sales milestones.
Read the full article: Lilly to Acquire Scorpion Therapeutics //
Source: https://investor.lilly.com/news-releases/news-release-details/lilly-acquire-scorpion-therapeutics-mutant-selective-pi3ka