Eli Lilly announced this morning that it is buying Hypnion, a Lexington, MA-based biotech company that has specialized in developing sleep disorder drugs. No terms were given in the announcement. Hypnion announced just weeks ago that its lead drug, HY10275, had hit primary and secondary endpoints for transient insomnia.
"The acquisition of Hypnion provides Lilly with a broader and more substantive presence in the area of sleep disorder research," said Steven M. Paul, M.D., executive vice president, science and technology for Lilly. "Hypnion has leveraged its expertise in this area to develop both innovative technologies and molecules, including the promising insomnia compound HY10275."
- see the release on the deal
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