Eli Lilly & Co. (LLY) Thursday said it will combine the oncology organization of its Lilly Research Laboratories with Loxo Oncology, the cancer biopharmaceutical company it bought earlier this year for $8 billion, as part of a new strategic direction in oncology.
The Indianapolis drug maker said it will wind down and terminate development of several early clinical-stage programs as part of the changes, adding that it will provide more details when it reports fourth-quarter earnings in January.
Eli Lilly said the new organization, named Loxo Oncology at Lilly, will be responsible for discovery research across therapeutic modalities, clinical development and regulatory affairs for oncology. It will also pursue acquisition and in-licensing opportunities.
“We intend to curate a balanced pipeline of medicines–whether internally or externally discovered–to help even more people with cancer around the world and position Lilly as a premier oncology company,” Eli Lilly said.
Josh Bilenker, Jacob Van Naarden and Nisha Nanda will lead the new oncology organization, reporting to Daniel Skovronsky, Eli Lilly’s chief scientific officer and president of Lilly Research Laboratories.
Eli Lilly also said David Hyman, who is currently chief of the early drug development service at Memorial Sloan Kettering Cancer Center, will join the new organization next month as chief medical officer.
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