Lilly to Acquire Centessa to Advance Sleep Disorders Treatments

INDIANAPOLIS — Eli Lilly is acquiring United Kingdom-based company Centessa Pharmaceuticals for up to $7.8 billion.

Lilly’s purchase will allow them to expand into the sleep disorder treatment market. Centessa’s medications focus on treating excessive daytime sleepiness and other neurological conditions.

Centessa is developing a new class of therapeutics targeting orexin, a brain molecule that regulates the sleep-wake cycle. Its lead drug, cleminorexton, is in mid-stage clinical testing for narcolepsy and idiopathic hypersomnia.

“Centessa has assembled a portfolio with the breadth and depth to improve wakefulness across a broad array of indications,” said Carole Ho, executive vice president and president, Lilly Neuroscience. “Joining forces with Centessa colleagues means we can now pursue that potential at the speed and scale it deserves.”

The deal is expected to close in the third quarter. The upfront cash consideration is worth about $6.3 billion, with an additional equity value of $1.5 billion.