Eli Lilly to acquire Scorpion for up to $2.5B (LLY:NYSE)

Eli Lilly (NYSE:LLY) has agreed to buy Scorpion Therapeutics’ lead drug program for up to $2.5B in cash and spin out the remaining company as a new entity focused on precision medicine.

Scorpion’s lead drug asset, a mutant-selective PI3Kα inhibitor known