Eli Lilly, a pharmaceutical firm leveraging science, announced a definitive agreement to acquire Scorpion Therapeutics’ mutant-selective PI3Kα inhibitor program, STX-478, in a transaction valued at up to $2.5 billion. Scorpion Therapeutics’ is a clinical-stage precision oncology startup generating game-changing cancer treatments. STX-478, an oral therapy currently in Phase 1/2 clinical trials, selectively targets cancerous cells with PI3Kα mutations without affecting healthy cells, addressing a limitation of existing treatments. This innovative approach could enhance disease control and improve tolerability for patients with hormone-positive breast cancer and advanced solid tumors. Lilly plans to leverage its expertise in oncology to further develop STX-478, which also has the potential for use in combination therapies to improve outcomes in earlier treatment stages.
Under the agreement, Scorpion will spin off a new entity to retain its employees and non-PI3Kα pipeline assets. The new company, led by Scorpion's management team, will focus on advancing precision oncology treatments, with Lilly holding a minority equity interest. Scorpion's CEO, Adam Friedman, stated that Lilly’s global resources and commitment to breast cancer treatment will expedite the development of STX-478. The transaction, subject to customary closing conditions, will be reflected in Lilly’s financial results after completion. This acquisition aligns with Lilly’s strategy to address unmet needs in oncology.
