A neighborly visit turns into a bidding war: How Dan Skovronsky secured Eli Lilly's latest $1B buy
Dan Skovronsky was a year into his job as CSO of Eli Lilly when, on a trip to New York, he stopped into the offices of the new neuro startup that had set up shop one door over from the Big Pharma’s Manhattan headquarters.
Skovronsky had come in on a mission to shake up Lilly’s R&D, betting on bigger projects earlier, and he knew neuroscience: Before Lilly bought the biotech, he was CEO of Avid Radiopharmaceuticals, which developed the first diagnostic for beta amyloid in Alzheimer’s patients. Founded by famed neuroscientist Asa Abeliovich, backed with a rapid infusion of cash and stuffed with ambitious but still nascent plans, Prevail fit his strategy.
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