Lilly to acquire SiteOne Therapeutics for $1bn.

Lilly, a pharmaceutical company, agreed to acquire SiteOne Therapeutics, a private biotechnology company developing small molecule inhibitors of sodium channels to treat pain and other neuronal hyperexcitability disorders, for $1bn. "The global burden of chronic pain continues to increase, and an effective non-opioid treatment remains elusive. 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," Mark Mintun, Lilly Group Vice President Neuroscience Research and Development.