Skip to Main Content

Three years ago, the biotech firm Loxo Oncology purchased a promising blood cancer pill for $40 million — part of a transaction that involved a near-bankruptcy, entrepreneurs with a keen eye, and a red-eye flight from Chicago to London. Now the medicine could go down as one of the great deals in biotech history, pending further data.

Eli Lilly, which acquired Loxo for $8 billion in January 2019, presented new data on the drug, LOXO-305, at this year’s annual meeting of the American Society of Hematology, which opened this past weekend. 

Unlock this article by subscribing to STAT+ and enjoy your first 30 days free!