Lilly Re-Acquires Cancer Compound

Posted: Updated:
(Image courtesy of Lilly.) (Image courtesy of Lilly.)
INDIANAPOLIS -

For the second time in a week, Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced a big acquisition. The deal for AurKa Pharma Inc. in Canada involves an upfront payment of $110 million. The total value of the transaction could grow by up to $465 million if certain regulatory, marketing and sales marks are met. Last week, Lilly announced the $1.2 billion acquisition of ARMO BioSciences, which is based in California.

AurKa Pharma was launched by TVM Capital Life Science to develop AK-01, a potential cancer-fighting compound originally discovered by Lilly. AK-01 is currently in early phase clinical trials involving multiple types of solid tumors. The compound, which Lilly sold to TVM in 2016, is designed to inhibit Aurora kinase, which Lilly says is believed to control chromosomal segregation, making it a key to cellular division. Aurora kinases are "frequently overexpressed in cancerous tumors."

Lilly Senior Vice President of Corporate Business Development says "the acquisition of AurKa Pharma supports Lilly's external innovation strategy, in which we seek to partner with leading life science venture capital firms in order to identify, support and access promising innovation in areas of unmet medical need. We are excited with the value TVM created for this compound through its early-Phase studies, and we look forward to more opportunities in the future."

You can connect to more about the acquisition by clicking here.

  • Perspectives

    • Unmasking Accounting Data: Moving from Reporting to Being Strategic

      What story do our financial statements tell us this month and year, to date? This was the question that was always directed at us by a former manager.  He believed that financial statements tell the story of how a business is run and the direction it’s going. Most businesses publish their profit and loss statements, and balance sheets every month. These are the standard reports included in most reporting packages. Usually, the management tends to believe...
    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • CIB, Visit Indy Present Case For Convention Center Expansion

      The Senate Appropriations Committee heard testimony Thursday on a bill that would fund the expansion of the Indiana Convention Center and the addition of two new hotels in downtown Indianapolis. The city’s Capital Improvement Board unveiled plans for the $120 million effort in October. CIB President Melina Kennedy says the city’s biggest conventions have said an expanded convention center and more hotel space were significant factors in their decisions to stay in Indy.

    • Report: Payless to Close All U.S. Stores

      Kansas-based Payless ShoeSource Inc. (NYSE: PSS) plans to close all of its U.S. stores as part of a bankruptcy filing later this month, according to a report from Reuters. The discount retailer has dozens of locations throughout Indiana. The business news organization reports Payless will close about 2,300 stores as it files for bankruptcy for the second time in two years. The company previously filed in 2017. Reuters says Payless has not been able to find a buyer, and...

    • Emplify Celebrates Record Growth

      Fishers-based Emplify is touting a record year of sales and hiring growth in 2018. The company, which focuses on employee engagement measurement software, secured $7.5 million in growth investment and says it saw a 156 percent increase in sales last year.

    • The Mystery of Cancer in Firefighters: Two Indiana Researchers Uncover Clues

      There’s a lot of conjecture about cancer in the world of firefighting, but a crescendo of anecdotal—and scientific—evidence is driving two Indiana researchers to search for answers. 

    • BraunAbility Moving Global HQ to Carmel

      A manufacturer of wheelchair vehicles and wheelchair lifts in Pulaski County has announced plans to relocate its global headquarters to Carmel. BraunAbility says it will invest $7.5 million to move its HQ to the Lakeside Green Business Center and construct a new Research & Development and Technology Center. The Indiana Economic Development Corp. says the move will create up to 70 jobs in Hamilton County. The company says the investment will also boost its existing...