New Eli Lilly acquisition to progress potential next-generation pain treatment

Eli Lilly and Company has agreed to acquire the biotech SiteOne Therapeutics, Inc. Shareholders of SiteOne will be eligible for a total of $1.0 billion in cash. The deal includes the Phase II-ready oral Na_V1.8 inhibitor STC-004, which is being evaluated as a chronic pain medicine.

Lilly stated that the investigational drug could represent a next-generation option for these patients. Phase I results showed that in treating chronic pain, STC-004 has significant analgesic potential, it was well-tolerated and is appropriate for once-daily oral administration at a low dosage.

What does Eli Lilly’s acquisition of SiteOne Therapeutics include?

Under the new agreement, the financial considerations are inclusive of payments on the basis that certain regulatory and commercial milestones are achieved. The transaction is subject to customary closing conditions.

Mark Mintun, Eli Lilly group Vice President, Neuroscience Research and Development, explained that an effective non-opioid treatment for chronic pain “remains elusive”. 

As such, the pharmaceutical company is eager to continue development of the Na_V1.8 inhibitor STC-004 “as part of our efforts to advance novel, addiction-free pain therapies,” Mintun added. This new agreement between Lilly and SiteOne therefore supports this mission.

Eli Lilly – investing in medicine advancement

Earlier this month, Lilly announced the expansion of its long-term partnership with Purdue University, committing up to $250 million by 2032. With a goal to accelerate innovation in the pharmaceutical pipeline, this collaboration has potential to be the largest industry-academic agreement in US history.

In December 2024, Lilly revealed another agreement to advance pharmaceutical product development, specifically with external biotech collaborators. The collaboration is in partnership with the contract development and manufacturing organisation (CDMO) Cambrex. As part of the agreed terms, collaborators will have access to different areas of the facility including process development, manufacturing and analytical development.