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Eli Lilly to Acquire Scorpion's PI3Kα Cancer Drug for Up to $2.5 Billion Including $1 Billion Upfront

Jan 13, 2025, 02:41 PM

Eli Lilly and Company has announced an agreement to acquire Scorpion Therapeutics' mutant-selective PI3Kα inhibitor program targeting advanced solid tumors, including breast cancer. The deal is worth up to $2.5 billion, comprising a $1 billion upfront payment and up to $1.5 billion in performance-based milestones. The PI3Kα inhibitor is currently in Phase 1/2 clinical trials, being evaluated as monotherapy or in combination therapies, with preliminary data showing an objective response rate of 23%. Lilly's Chief Scientific Officer, Dan Skovronsky, commented that the acquisition "checked all the boxes" for the company's strategic objectives, as it aims to expand its oncology pipeline with innovative clinical programs.