Hypion will add Phase II candidate and discovery platform to Lilly’s pipeline.

Eli Lilly and Company will acquire Hypnion, a privately held neuroscience drug discovery company focused on sleep disorders. “The acquisition of Hypnion provides Lilly with a broader and more substantive presence in the area of sleep disorder research,” remarks Steven M. Paul, M.D., executive vp, science and technology for Lilly.

“Hypnion has leveraged its expertise in this area to develop both innovative technologies and molecules, including the promising insomnia compound HY10275.”

HY10275 is a dual-acting H1/5HT2a compound that uses Hypnion’s SCORE-2004™ technology. Earlier in 2007, Hypnion reported that the candidate met the primary and secondary endpoints in the initial Phase II trial at doses of 1 mg and 3 mg in adults with transient insomnia.

The companies expect the transaction to close near the end of the first quarter of 2007.

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