Centessa agrees to $38/share Eli Lilly acquisition plus up to $9/share in milestone CVRs

Filed March 31, 2026 · Period ending March 31, 2026 · ~1 min read

Key Changes

• high

  Eli Lilly will acquire Centessa for $38 cash per share plus contingent value rights (CVRs) worth up to $9/share tied to FDA approvals of ORX750 or ORX142 by 2029-2031. Total potential value: $47/share.

  Item 1.01: Transaction Agreement verify on EDGAR →
• high

  CVR payments: $2 for any indication approval by Dec 2029, $5 for idiopathic hypersomnia approval, $2 for narcolepsy type 2 approval (both within 5 years of close). CVRs are non-transferable and milestone achievement is uncertain.

  Item 1.01: CVR Agreement verify on EDGAR →
• medium

  Major shareholders (Medicxi, Index Ventures, General Atlantic) holding ~20% of shares have agreed to vote for the deal. Transaction requires 75% shareholder approval and UK court sanction.

  Item 1.01: Voting Agreements verify on EDGAR →