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Lilly to Acquire SGX Pharmaceuticals

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Lilly has signed a definitive merger agreement to acquire SGX Pharmaceuticals, Inc. for approximately $64 million in cash. SGX, based in San Diego, CA, is a biotechnology company focused on oncology drug discovery and development.     The acquisition gives Lilly access to FAST, SGX’s fragment-based, protein structure guided drug discovery technology, and to its portfolio of preclinical oncology compounds focused on a number of high-value kinase targets.     The two companies began c...

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