Eli Lilly and Co. will acquire a preclinical pain drug program from Hydra Biosciences Inc.
The Indianapolis-based company will acquire all assets related to Cambridge, Mass.-based Hydra's pre-clinical program related to the transient receptor potential ankyrin 1, or TRPA1, inhibiting drugs.
TRPA1 is a protein whose function includes an electrical signaling, among others, and is responsible for sensations of pain, pressure and warmth, among other things. Hydra's program is aimed at developing drugs that inhibit these proteins and act as a potential treatment of chronic pain syndromes.
Financial terms of the transaction were not disclosed.
Lilly said the transaction will have no change to its non-GAAP per share guidance for 2018.