Lilly Acquires Scorpion Therapeutics’ Breast Cancer Program for $2.5 Billion

Eli Lilly has agreed to acquire Scorpion’s PI3Kα inhibitor STX-478 which is currently being evaluated in a Phase 1/2 clinical trial for breast cancer and other advanced solid tumors. STX-478 could represent the next generation of PI3Kα targeting agents by selectively targeting the pathway in cancerous but not healthy cells, thus overcoming a key limitation of currently available medicines that target the PI3Kα pathway. This approach could potentially offer better disease control through deeper pathway inhibition, as well as improved tolerability.

“PI3Kα mutations occur in a meaningful proportion of hormone-positive breast cancers, and there is significant unmet need for new treatment options that effectively and safely target this pathway,” said Jacob Van Naarden, executive vice president and president of Lilly Oncology.

Under the terms of the agreement, Lilly will acquire Scorpion and Scorpion shareholders could receive up to $2.5 billion in cash. Additionally, as part of the transaction, Scorpion will spin out a new entity to hold its employees and non-PI3Kα pipeline assets. The new, independent company would be owned by Scorpion’s current shareholders with Lilly holding a minority equity interest. The new company will be led by Scorpion President and CEO Adam Friedman and members of the current Scorpion management team and will focus on discovering and delivering a portfolio of precision medicines to patients, accelerated by Scorpion’s discovery capabilities and non-PI3Kα pipeline of medicines. (Source: Scorpion Therapeutics Website, 13 January, 2025)