Recent progress in the development of inhibitors of human Type II s-PLA2 as potential anti-inflammatory agents is presented. While many companies have curtailed their efforts in the PLA2 area, Eli Lilly and Shionogi are continuing to advance LY-315920 (S-5920) as a potential treatment for sepsis and other diseases that have an inflammatory component. The Lilly developmental effort leading to LY-315920 is extensively reviewed, as well as the current status of other small molecular weight inhibitors of Type II s- PLA2 that have been reported to be in late-stage development.