Lilly catches Relay in PI3Ka race via Scorpion acquisition

Eli Lilly is taking another shot at PI3Ka inhibition to bolster its breast cancer pipeline through a deal to acquire Scorpion. The deal, worth up to $2.5 billion including an undisclosed upfront payment, is also the latest example of a concurrent acquisition and new company spinout. 

Eli Lilly and Co. (NYSE:LLY) will retain lead asset STX-478 from Scorpion Therapeutics Inc., while the remainder of the pipeline will spin out into a new company with Lilly as a minority shareholder. ...