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Eli Lilly & Company
Drug Names(s): SGX523
Description: SGX523 is an orally-bioavailable, small molecule inhibitor of the cMET receptor tyrosine kinase. Publicly available data indicates that the MET receptor tyrosine kinase plays important roles in controlling cell growth, division and motility, metastasis, and the formation of blood vessels, and is implicated as a causative agent in a broad range of solid tumors, including lung, colon, prostate, gastric, and both hereditary and acquired forms of certain kidney cancers.
Deal Structure: In July 2008, Eli Lilly and SGX Pharmaceuticals announced that the companies have signed a definitive merger agreement providing for the acquisition of SGX in an all-cash transaction. Under the terms of the agreement, Lilly will acquire all of the outstanding shares of SGX common stock at a price of $3.00 per share, for a total purchase price of approximately $64.0 million.
In August 2008, Eli Lilly completed its acquisition of SGX Pharmaceuticals.
Pink Sheet Lilly Buying SGX For $64M In Cash
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