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Lilly Seals up to $7.8 Billion Deal for Centessa in Sleep Disorder Bet
Eli Lilly aims to diversify from metabolic drugs by acquiring Centessa's neurological programs targeting sleep disorders and neuropsychiatric conditions.
- On Tuesday, Eli Lilly and Company announced a definitive agreement to acquire Centessa Pharmaceuticals for up to $7.8 billion, marking a major expansion into sleep medicine.
- Expanding its neuroscience capabilities, Lilly targets treatments for excessive daytime sleepiness and related sleep-wake disorders through Centessa's orexin receptor pipeline.
- Under the deal, Lilly will pay $38 per share in cash, representing an upfront equity value of approximately $6.3 billion plus $1.5 billion in contingent value rights tied to FDA approvals.
- The transaction is expected to close in the third quarter, subject to approval by Centessa shareholders and sanction by the High Court of Justice of England and Wales.
- Centessa's lead candidate cleminorexton has demonstrated promise in Phase 2a studies, with contingent payments up to $9 per share tied to FDA approvals for narcolepsy and idiopathic hypersomnia by January 1, 2030.
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MyVillager
MyVillagerLilly to acquire Centessa Pharmaceuticals to advance treatments for sleep-wake disorders
/PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) and Centessa Pharmaceuticals plc (Nasdaq: CNTA), a clinical-stage company developing a new class of medicines...
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Total News Sources13
Leaning Left1Leaning Right0Center6Last UpdatedBias Distribution86% Center
Bias Distribution
- 86% of the sources are Center
86% Center
14%
C 86%
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