Eli Lilly Targets Pain Management Opportunity with SiteOne Therapeutics Acquisition

Eli Lilly and Company (NYSE:LLY) is expanding its footprint into the non-opioid pain management market in pursuit of growth opportunities. On May 27, the company announced the inking of an agreement to acquire SiteOne therapeutics. The company is acquiring the private biotech company in a deal worth up to $1 billion in cash and milestone-based payments.

With the acquisition, Eli Lilly will gain access to SiteOne Therapeutics flagship product STC -004, a Phase 2 ready Nav1.8 inhibitor being developed as a non-opioid treatment for chronic pain. The asset aligns with the company’s push for addiction-free pain therapies.

The acquisition also underscores the company’s push for opportunity in the pain management market, whereby hundreds of millions of patients struggle with chronic pain. Eli Lilly views pain management as a strategic therapeutic area, given the massive market size and persistent unmet medical needs. Expansion into the pain management sector comes as Eli Lilly seeks to reduce its reliance on weight loss and diabetes drugs for revenues.

"The rising global impact of chronic pain highlights the urgent need for effective non-opioid treatments," said Mark Mintun, Lilly’s Group VP of Neuroscience R&D. "Lilly looks forward to advancing STC-004 with the exceptional SiteOne team, furthering our mission to develop innovative, addiction-free pain therapies."

SiteOne Therapeutics is a clinical-stage biopharma company developing highly selective small molecule inhibitors targeting Nav1.7 and Nav1.8 to treat pain, cough, and sensory hyperexcitability disorders. Its focus is on safe, non-opioid treatments to minimize addiction risks.

Eli Lilly and Company is a global pharmaceutical leader dedicated to innovative, life-changing treatments. With nearly 150 years of pioneering research, Lilly addresses diabetes, obesity, Alzheimer’s, cancer, and immune disorders, ensuring accessible, affordable medicines worldwide.

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