By Fineline Cube 
US-based pharmaceutical giant Eli Lilly & Co. (NYSE: LLY) announced plans to acquire compatriot biotech firm SiteOne Therapeutics, Inc. for up to USD 1 billion. SiteOne is developing small molecule inhibitors of sodium channels to treat pain and other neuronal hyperexcitability disorders.
Deal Details
The acquisition centers on STC-004, a Nav1.8 inhibitor that is ready for Phase II clinical trials. STC-004 is being investigated as a next-generation, non-opioid treatment for chronic pain. This move by Eli Lilly highlights its commitment to expanding its portfolio in the pain management sector.-Fineline Info & Tech