Back Bay Serves as Exclusive Advisor to Centrexion on Licensing Agreement with Lilly [Back Bay Transaction]

Back Bay Life Science Advisors is proud to have served as exclusive strategic and financial advisors to Centrexion Therapeutics in the licensing agreement of its non-opioid pain asset to Eli Lilly and Company (NYSE: LLY). Centrexion is due $47.5 million upfront with the potential to receive an additional $950 million in development and commercial milestones as well as royalties.

Lilly today announced a license agreement to acquire the exclusive worldwide rights for CNTX-0290 from Centrexion Therapeutics, Inc. for their novel, small molecule somatostatin receptor type 4 (SSTR4) agonist, currently in Phase I clinical testing as a potential non-opioid treatment for chronic pain conditions.

After providing ongoing strategic support to Centrexion, Back Bay Life Science Advisors was pleased to take an exclusive advisory role in this global licensing agreement. We look forward to the continued success of Centrexion and Lilly in the development of non-opioid, non-addictive therapeutics for chronic pain.

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