
Lilly to acquire Centessa to accelerate orexin-based sleep-wake therapies
Eli Lilly will acquire Centessa Pharmaceuticals for up to $47 per Centessa share (cash of $38 plus a non-transferable contingent value right) in a deal valued at about $6.3 billion upfront with up to $1.5 billion more via CVR milestones, expanding Lilly’s neuroscience portfolio into sleep medicine. Centessa’s lead orexin receptor 2 (OX2R) agonist program, led by cleminorexton (formerly ORX750), targets narcolepsy types 1 and 2 and idiopathic hypersomnia and is supported by additional assets across neurological indications. The transaction is subject to Centessa shareholder and regulatory approvals and is expected to close in Q3 2026.









