Lilly’s gain in pain via Siteone takeout: Deals Report

Multibillion-dollar licensing and M&A deals attracted some of the biggest headlines this week, as did presentations at the ASCO meeting. But there were also a handful of smaller deals that will help advance biotechs’ clinical programs as larger partners stepped in.

A deal by Eli Lilly and Co. (NYSE:LLY) to acquire privately held Siteone Therapeutics Inc. will give the pharma STC-004, an analgesic targeting Nav1.8. Lilly described the program as Phase II-ready, and hopes to move it forward in chronic pain settings...