Eli Lilly has entered into a definitive agreement to acquire Centessa Pharmaceuticals in a transaction valued at up to USD 7.8 billion. The deal includes an upfront cash consideration of approximately USD 6.3 billion, with an additional contingent value right (CVR) of up to USD 1.5 billion tied to future regulatory milestones. The acquisition centres on Centessa's portfolio of OX2R agonists, including the lead candidate cleminorexton (ORX750), which is in Phase IIa development for narcolepsy and idiopathic hypersomnia.

The CVR provides additional payments if cleminorexton or a follow-on asset, ORX142, achieves US regulatory approval for specific hypersomnia indications within set timeframes. The transaction supports Lilly's expansion into neuroscience and adds a promising pipeline targeting sleep-wake disorders. The deal is structured to provide Centessa shareholders with an upfront premium and participation in the future upside of the clinical programs.

According to PharmCube's NextBiopharm® database, this marks the largest transaction in the OX2R agonist space. Click here to request a free trial for NextBiopharm®.