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SGX Pharmaceuticals Announces Financial Results for the Three and Six Months Ended June 30, 2008
Date:8/7/2008

rcised prior to the effective time of the Merger will terminate. Any issued and outstanding stock options with an exercise price per share less than $3.00 will be converted into the right to receive a payment equal to the product of (1) the excess of $3.00 per share over the exercise price per share of such stock options and (2) the number of shares of SGX common stock subject to such stock options.

The completion of the Merger is subject to the satisfaction or waiver of a number of closing conditions, including, among others, (1) adoption of the Merger Agreement by the holders of a majority of SGX's outstanding common stock, (2) subject to certain exceptions, the absence of any material adverse effect on SGX from and after the date of the Merger Agreement, (3) the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, (4) the absence of any legal prohibitions on the closing of the Merger and (5) subject to certain exceptions, the continued accuracy of SGX's representations and warranties as of the effective time of the Merger.

The special meeting of stockholders to consider and vote upon the proposal to adopt the Merger Agreement and to transact such other business as may properly come before the special meeting (or any adjournment, postponement or continuance thereof) is scheduled for 9:00 a.m., California time, on August 20, 2008, at SGX's corporate headquarters located at 10505 Roselle Street, San Diego, California 92121.

Additional Information

SGX filed a definitive proxy statement with the Securities and Exchange Commission on July 21, 2008 with respect to the proposed merger transaction with Eli Lilly and Company. Before making any voting or investment decision with respect to the merger, investors and stockholders of SGX are urged to read the proxy statement and the other relevant materials carefully in their entirety because they contain important information ab
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SOURCE SGX Pharmaceuticals, Inc.
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