Lilly Acquires Pre-Clinical Program

Posted: Updated:
This is Eli Lilly and Co.'s first appearance on the list. This is Eli Lilly and Co.'s first appearance on the list.
INDIANAPOLIS -

Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced an agreement with Massachusetts-based Hydra Biosciences. The company says it has acquired all assets related to a pre-clinical program from Hydra, though financial terms of the deal are not being disclosed.

The program is related to TRPA1 antagonists, which Lilly says is currently being studied for the potential treatment of chronic pain syndromes. Mark Mintun, vice president of pain and neurodegeneration research at Lilly, calls the program promising and says the company will seek to initiate clinical studies in the near term.

"We are very excited to be transitioning this program into Lilly, given their depth of experience in drug development and commercialization," said Russell Herndon, chief executive officer of Hydra Biosciences. "Because of Lilly's commitment to finding novel treatments for chronic pain, we can't think of a better organization to advance these assets."

Hydra Biosciences focuses on the Transient Receptor Potential family of ion channels, which it says "offers numerous drug discovery opportunities in multiple areas of human disease."

  • Perspectives

    • Ahh…Yes! Turning a Hot Mess into a Cool Breeze

      "Problems cannot be solved by the level of thinking that created them," is attributed to Einstein over 75 years ago. This still holds true, particularly in challenging communications. Many people address conflict at the level it was created by rehashing and building more evidence for their ‘side’ of an argument. Repeating a position tends to intensify the separation of people.

    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

    • Bob Stutz

      New Role For Salesforce Exec

      After three years on the job, Salesforce Marketing Cloud Chief Executive Officer Bob Stutz is moving into a new role. Stutz, who will remain in Indianapolis, is now executive vice president of strategic partners at Salesforce (NYSE: CRM).  Since arriving in Indianapolis, Stutz has overseen the establishment of the company’s regional headquarters in downtown Indianapolis, which included the Salesforce name being placed atop the state’s tallest building.

    • Red Star announced plans to expand and add 18 jobs.

      Larwill Medical Device Maker to Expand, Add Jobs

      A Whitley County-based medical device maker has announced plans to expand its facility in Larwill which should mean new jobs. Red Star Contract Manufacturing Inc. says it will invest $1.6 million in real estate improvements and additional equipment and will create 18 new jobs by 2022. 

    • Purdue Global Now Offers Analytics Degree

      The U.S. Bureau of Labor Statistics reports that jobs in the field of data analysis are projected to grow 26 percent over the next ten years. Acting upon that data, Indianapolis-based Purdue University Global has launched a new Bachelor of Science degree program in analytics. 

    • Regal Beloit is closing in Valparaiso. (photo courtesy; The Times of Northwest Indiana)

      Valpo Bearings Plant to Close, Eliminating 160+ Jobs

      Wisconsin-based Regal Beloit Corp. and the union representing workers have reached an agreement about the closing of a helicopter bearing factory in Valparaiso. According to our partners at The Times of Northwest Indiana, the decision will cost between 160 to 170 workers their jobs. 

    • (image courtesy of The Times of Northwest Indiana)

      U.S. Steel Updates Layoff Notice to State

      Pittsburgh-based U.S. Steel Corp. (NYSE: X) has updated the State of Indiana regarding its previously announced layoffs at the East Chicago Tin Mill. The company says 314, rather than 307, workers will be displaced when the mill is idled this fall.