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Home Industry News Eli Lilly completes acquisition of Hypnion

Eli Lilly completes acquisition of Hypnion

5th April 2007

Eli Lilly has announced that it has completed its acquisition of privately-held neuroscience drug-discovery company Hypnion. Hypnion’s research and development efforts are focused on the area of sleep disorder research.

The transaction is valued at $315 million (159.4 million pounds), with the effects of this acquisition to be included in Lilly’s financial results for the second quarter of 2007.

Following the acquisition, a number of new drug candidates will be added to Lilly’s research and development pipeline, including insomnia molecule HY10275, currently undergoing clinical trials at phase II, in addition to a number of compounds in earlier stages of development.

Steven M Paul, executive vice-president of science and technology at Lilly, said: “We are pleased to have completed the acquisition of Hypnion and now plan to leverage our [central nervous system] expertise to continue the development of HY10275.”

He added that the transaction bolstered the company’s research efforts in sleep disorders in addition to highlighting Lilly’s dedication to neuroscience, with a continuing focus on the development of compounds to treat sleep disorders including insomnia.

Earlier this year, Hypnion announced that HY10275 met both primary and secondary endpoints in its first phase II clinical trials. The compound is a dual-acting h1/5HT2a compound using the Score-2004 technology.

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