Eli Lilly and Company (NYSE: LLY) and SiteOne Therapeutics, Inc. (“SiteOne”), a private biotechnology company developing small molecule inhibitors of sodium channels to treat pain and other neuronal hyperexcitability disorders, announce a definitive agreement for Lilly to acquire SiteOne. The transaction includes STC-004, a Phase 2 ready Nav1.8 inhibitor being studied for the treatment of pain. STC-004 may represent a next-generation, non-opioid treatment for patients suffering from chronic pain. Under the terms of the agreement, Lilly will acquire SiteOne and SiteOne shareholders could receive up to $1.0 billion in cash, inclusive of an upfront payment and subsequent payments upon achievement of certain regulatory and commercial milestones.
Read the full article: Lilly to Expand Its Pain Pipeline with Acquisition of SiteOne Therapeutics //
Source: https://www.prnewswire.com/news-releases/lilly-to-expand-its-pain-pipeline-with-acquisition-of-siteone-therapeutics-302465735.html