Eli Lilly Licenses Early-phase Molecule From Centrexion To Treat Chronic Pain

(RTTNews) - Eli Lilly and Company (LLY) has acquired the exclusive worldwide rights for CNTX-0290, a small molecule SSTR4 agonist currently in Phase 1 testing as a potential non-opioid treatment for chronic pain conditions. Lilly will pay Centrexion an upfront payment of $47.5 million to license this early-phase molecule. Centrexion may be eligible for up to $575 million in potential milestones. Also, Eli Lilly affirmed its 2019 non-GAAP earnings per share guidance.

Centrexion is a late clinical-stage biopharmaceutical company focused on developing and commercializing non-opioid and non-addictive therapies for the treatment of chronic pain.