Eli Lilly and Company (NYSE: LLY) has completed its acquisition of Hypnion, Inc. - a privately held neuroscience drug discovery company focused on sleep disorder research.
The said transaction, valued at a total purchase price of $315 million, brings several new early-stage drug candidates and HY10275 (an insomnia molecule currently in Phase II of development) to Lilly’s drug pipeline.
According to Steven M. Paul, M.D., executive vice president, science and technology for Lilly:
Read the full report.
"We are pleased to have completed the acquisition of Hypnion, and now plan to leverage our CNS expertise to continue the development of HY10275. This deal not only strengthens our own sleep disorder research, but also reaffirms our commitment to remaining a leader in the field of neuroscience.
As we integrate Hypnion's capabilities into our own, we will continue to focus on discovering and developing better treatments for patients struggling with insomnia and other sleep disorders."
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