Eli Lilly: purchase of Scorpion Therapeutics' PI3Kα program
(CercleFinance.com) - Eli Lilly and Company announces the acquisition of Scorpion Therapeutics' PI3Kα program, including the inhibitor STX-478, an oral treatment in Phase 1/2 clinical trials for breast cancer and other solid tumors.
STX-478 is distinguished by its ability to selectively target cancer cells, offering the potential for improved efficacy and tolerability.
The acquisition, valued at up to $2.5 billion, includes an upfront payment and payments linked to regulatory and commercial milestones.
Scorpion will spin off its other assets into a new entity, majority-owned by its current shareholders, with a minority stake from Lilly.
Completion of the transaction is subject to customary conditions.
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