Lilly to Acquire Pre-Clinical Pain Program From Hydra Biosciences

Eli Lilly and Co. (LLY) on Friday said they would acquire all the assets of a pre-clinical pain program from Hydra Biosciences.

Eli agreed to acquire all assets related to Hydra’s pre-clinical program of TRPA1 antagonists, currently being studied for the potential treatment of chronic pain syndromes.

Financial terms of the deal weren’t disclosed.

“At Lilly, we are committed to developing new treatment options for people struggling with chronic pain,” said Dr. Mark Mintun, vice president of pain and neurodegeneration research at Lilly. “Through the acquisition of this promising pre-clinical program from Hydra, we will advance our understanding of the TRP pathway in pain signaling, and will seek to initiate clinical studies in the near term.”

Lilly said there would be no change to the company’s 2018 non-GAAP earnings per share guidance as a result of this transaction.

https://www.marketscreener.com/ELI-LILLY-AND-COMPANY-13401/news/Eli-Lilly-and-Lilly-to-Acquire-Pre-Clinical-Pain-Program-From-Hydra-Biosciences-27757087/