Eli Lilly and Company has reached a definitive agreement to acquire SiteOne Therapeutics, a clinical-stage biotechnology firm developing small-molecule inhibitors targeting sodium channels for pain and related disorders. The deal includes SiteOne’s lead candidate, STC-004, a Nav1.8 inhibitor currently ready for Phase 2 trials. This drug aims to offer a non-opioid alternative for chronic pain management. Under the terms of the agreement, Lilly will pay up to $1 billion in cash, which includes an upfront payment and additional amounts contingent on regulatory and commercial milestones. The acquisition will allow Lilly to build on its existing efforts to develop safer, more effective therapies for patients affected by chronic pain.
SiteOne has focused over the past decade on creating treatments for pain and neuronal hyperexcitability disorders. The company’s selective inhibitors also target other ion channels involved in peripheral nervous system conditions. Mark Mintun, Lilly group Vice President, Neuroscience Research and Development, highlighted, "Lilly is eager to continue the development of STC-004 with the outstanding SiteOne team as part of our efforts to advance novel, addiction-free pain therapies. Innovation in pain management is critical to address the unmet needs of millions of patients around the world." The transaction is subject to customary closing conditions and will be reflected in Lilly’s financial results after completion. This acquisition aligns with Lilly’s broader mission to advance new therapies addressing significant health challenges worldwide.
