Eli Lilly’s $8 billion purchase of Loxo Oncology in January wasn’t supposed to be a tech-style acqui-hire. But it’s turning into one.
On Thursday, the drug giant announced that it is renaming its early cancer drug development arm Loxo Oncology at Lilly, and that the new unit will be helmed by Josh Bilenker, who had been Loxo’s CEO, along with his whole team from the biotech startup, including Jacob Van Naarden, who was the company’s chief operating officer, and Nisha Nanda, its chief development officer. The group is also hiring Dr. David Hyman, the Memorial Sloan Kettering oncologist who spearheaded the company’s early cancer trials, as chief medical officer.
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