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Plus, news about Merck, MultiValent Biotherapies, Alvotech, enGene, Mirum, and Adaptive Biotechnologies.
💸 Eli Lilly acquires another pain biotech: The Indianapolis pharma giant has made its 11th acquisition of the year, snapping up Austin, TX-based 4E Therapeutics for undisclosed terms. The drugmaker gets access to a non-opioid chronic pain biotech that has been through Phase 1. 4E is developing a MNK inhibitor called 4ET1103, among other assets. The company has built a pipeline targeting neuropathic pain, migraine, acute pain and other conditions by trying to “interrupt pain signaling at its source.” Co-founder Ted Price sold his last pain biotech, CerSci Therapeutics, to Acadia Pharmaceuticals for $52.5 million upfront in 2020, along with $887 million in milestone potential. Last year, Lilly bought pain biotech SiteOne Therapeutics for up to $1 billion. — Kyle LaHucik