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Breaking News: Lilly Gets Discovery Partner SGX in a Deal Worth $64M

By Staff Reports

Wednesday, July 9, 2008
Shares of SGX Pharmaceuticals Inc. hit an all-time low in March when the company reported unexpected toxicity in two Phase I trials of compound SGX-523 in patients with solid tumor cancers. That obviously didn't discourage Eli Lilly & Co., which announced late Tuesday it had signed a definitive merger agreement to acquire SGX in a $64 million cash transaction. (BioWorld Today)

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