Eli Lilly to acquire Scorpion Therapeutics for $2.5bn.

Eli Lilly, an American multinational pharmaceutical company, agreed to acquire Scorpion Therapeutics, a clinical-stage, precision oncology biotechnology company, for $2.5bn. "Lilly has advanced scientific breakthroughs for some of the most difficult-to-treat cancers. We believe Lilly's global capabilities and strategic commitment to patients with breast cancer will accelerate our goal of developing STX-478 to improve outcomes for the many patients with solid tumors driven by PI3Kα mutations. This acquisition is a testament to the expertise of the Scorpion team and our drug discovery capabilities, which will become the foundation of our new company," Adam Friedman, Scorpion Therapeutics President and CEO.