Navigation Links
Lilly Announces Completion of SGX Acquisition
Date:8/20/2008

INDIANAPOLIS, Ind., Aug. 20 /PRNewswire-FirstCall/ -- Eli Lilly and Company (NYSE: LLY) today announced that it has completed the acquisition of SGX Pharmaceuticals, Inc. (Nasdaq: SGXP), a San Diego-based biotechnology company focused on drug discovery and development in the area of oncology. The completion of the deal followed today's Special Stockholders Meeting, in which a majority of SGX stockholders voted in favor of the merger agreement with Lilly. Under the agreement, Lilly will today acquire all of the outstanding shares of SGX common stock at a price of $3.00 per share. All other closing conditions have also been met.

(Logo: http://www.newscom.com/cgi-bin/prnh/20031219/LLYLOGO )

The deal, valued at a total purchase price of $64 million, will allow Lilly to integrate SGX's structure-guided drug discovery platform into its drug discovery efforts. It will also give Lilly access to FAST(TM), SGX's fragment-based, protein structure guided drug discovery technology, and to a portfolio of pre-clinical oncology compounds focused on a number of high-value kinase targets.

"We are pleased to complete the acquisition of SGX and are excited to bring the scientific and technological expertise of SGX into Lilly's research organization," remarked Steven M. Paul, M.D., executive vice president, science and technology for Lilly. "We will leverage the combined resources of both companies to strengthen our structural biology capa
'/>"/>

SOURCE Eli Lilly and Company
Copyright©2008 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2

Related biology technology :

1. SGX - Lilly Merger Offer Receives Positive Opinions From Proxy Advisory Firms
2. Lilly Reaffirms Purchase Offer for SGX Pharmaceuticals
3. Lilly Reports Solid Second-Quarter Results
4. Lilly to Acquire SGX Pharmaceuticals
5. Lillys Connelly Appointed to the Presidents Commission on White House Fellowships
6. Lilly Employees from Nearly 50 Nations Participate in Companys First-Ever Global Day of Service
7. Lilly Backs Federal Legislation to Inform the Public on Payments to Physicians
8. Lilly Completes Final Phase of Its Indianapolis Biotechnology Complex
9. Lilly CEO Urges Policy Prescriptions to Help Ensure Public and Private Biotech Investments Generate Dividends and U.S. Job Growth
10. Lilly CEO Praises Massachusetts Leadership in Biotech, Urges Policy Prescriptions to Help Ensure States Investment Generates Dividends and Jobs
11. Lilly Reports Solid First-Quarter Results
Post Your Comments:
*Name:
*Comment:
*Email:
Breaking Biology News(10 mins):Tropical birds waited for land crossing between North and South America: UBC study 2ORAL COTI-2 IS EFFECTIVE IN AN ANIMAL MODEL OF HUMAN PANCREATIC CANCER 2ORAL COTI-2 IS EFFECTIVE IN AN ANIMAL MODEL OF HUMAN PANCREATIC CANCER 3ORAL COTI-2 IS EFFECTIVE IN AN ANIMAL MODEL OF HUMAN PANCREATIC CANCER 477 percent of European pigs are castrated without anesthetic 2Nurses from HCA Hospitals Nationwide Rally in Support of MountainView RNs Today 55173 1Nurses from HCA Hospitals Nationwide Rally in Support of MountainView RNs Today 55173 2Smokers Twice As Likely to Get TB 55170 1Smokers Twice As Likely to Get TB 55170 2FDA Approves XYZAL 28R 29 For Use In Children Age Six Months And Older For The Relief Of Perennial Allergic Rhinitis And Chronic Idiopathic Urticaria 55166 1FDA Approves XYZAL 28R 29 For Use In Children Age Six Months And Older For The Relief Of Perennial Allergic Rhinitis And Chronic Idiopathic Urticaria 55166 2FDA Approves XYZAL 28R 29 For Use In Children Age Six Months And Older For The Relief Of Perennial Allergic Rhinitis And Chronic Idiopathic Urticaria 55166 3FDA Approves XYZAL 28R 29 For Use In Children Age Six Months And Older For The Relief Of Perennial Allergic Rhinitis And Chronic Idiopathic Urticaria 55166 4FDA Approves XYZAL 28R 29 For Use In Children Age Six Months And Older For The Relief Of Perennial Allergic Rhinitis And Chronic Idiopathic Urticaria 55166 5FDA Approves XYZAL 28R 29 For Use In Children Age Six Months And Older For The Relief Of Perennial Allergic Rhinitis And Chronic Idiopathic Urticaria 55166 6FDA Approves XYZAL 28R 29 For Use In Children Age Six Months And Older For The Relief Of Perennial Allergic Rhinitis And Chronic Idiopathic Urticaria 55166 7FDA Approves XYZAL 28R 29 For Use In Children Age Six Months And Older For The Relief Of Perennial Allergic Rhinitis And Chronic Idiopathic Urticaria 55166 8FDA Approves XYZAL 28R 29 For Use In Children Age Six Months And Older For The Relief Of Perennial Allergic Rhinitis And Chronic Idiopathic Urticaria 55166 9FDA Approves XYZAL 28R 29 For Use In Children Age Six Months And Older For The Relief Of Perennial Allergic Rhinitis And Chronic Idiopathic Urticaria 55166 10