Eli Lilly and Company has announced a definitive agreement to acquire Centessa Pharmaceuticals plc, strengthening its neuroscience portfolio and advancing next-generation therapies for sleep-related and neurological disorders.

Centessa is developing a pipeline of orexin receptor 2 (OX2R) agonists targeting the sleep-wake cycle. Its lead candidate, cleminorexton (formerly ORX750), has shown promising Phase 2a results across narcolepsy type 1, narcolepsy type 2, and idiopathic hypersomnia, positioning it as a potential best-in-class therapy.

The acquisition enables Lilly to scale Centessa’s innovative orexin-based portfolio using its global research, clinical, regulatory, and commercial capabilities. Orexin biology is considered a key mechanism in regulating wakefulness, with potential applications across neurological, neurodegenerative, and neuropsychiatric conditions.

Under the agreement, Lilly will acquire all outstanding shares of Centessa for USD 38.00 per share in cash, along with a contingent value right (CVR) offering up to an additional USD 9.00 per share based on regulatory milestones. This represents an upfront equity value of approximately USD 6.3 billion, with a potential additional USD 1.5 billion tied to future approvals.

The transaction reflects a premium of approximately 40.5 Percent over Centessa’s 30-day volume-weighted average share price and has been approved by the boards of both companies. It is expected to close in the third quarter of 2026, subject to shareholder and regulatory approvals.

For pharma manufacturing, the deal underscores growing investment in advanced neuroscience pipelines and highlights increasing focus on precision-driven drug development platforms targeting complex biological pathways.