Eli Lilly has announced a definitive agreement under which it will acquire Centessa Pharmaceuticals for approximately $6.3 billion upfront and a potential equity value of $1.5 billion. 

Centessa is developing a pipeline of orexin receptor 2 (OX2R) agonists designed to address the neurobiological system critical to the sleep-wake cycle to treat excessive daytime sleepiness and disorders of impaired wakefulness.  

Its lead investigational candidate cleminorexton (formerly ORX750) has demonstrated a potential best-in-class profile in Phase IIa clinical studies across narcolepsy type 1, narcolepsy type 2, and idiopathic hypersomnia.  

Centessa’s OX2R agonist portfolio includes additional clinical and preclinical-stage assets with potential utility across a broader range of neurological, neurodegenerative, and neuropsychiatric conditions. 

“Orexin receptor biology represents one of the most compelling mechanistic opportunities in neuroscience as a direct intervention on the master switch of the sleep-wake cycle. 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 Centessacolleagues means we can now pursue that potential at the speed and scale it deserves.” 

“Centessa is at the forefront of orexin science, and we’ve built a potential best-in-class portfolio of OX2R agonists with a level of depth and breadth that could help redefine what’s possible in neuroscience,”commented Mario Alberto Accardi, Chief Executive Officer of Centessa and Founder of the Orexin Program. “By combining Centessa’s team and capabilities with Lilly’s global complementary research, clinical, regulatory and commercial capabilities, we will seek to accelerate the advancement of our orexin portfolio across a broad range of neuroscience indications for the benefit of patients in need. This milestone reflects not only the strength of our science, but also the transformative potential of our orexin portfolio for patients who urgently need new solutions.”