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STAT+: Eli Lilly to buy gene-editing biotech Verve for up to $1.3 billion
Eli Lilly said Tuesday that it will acquire Verve Therapeutics, a biotech developing gene-editing therapies for cardiovascular disease.
Eli Lilly said Tuesday that it will acquire Verve Therapeutics, a biotech developing gene-editing therapies for cardiovascular disease.
Lilly will acquire Verve for $10.50 per share, a premium of nearly 70% to the biotech’s share price at Monday’s close. The deal also includes an additional payment of $3 per share contingent on the first patient getting dosed in a Phase 3 trial of Verve’s lead candidate. In total, Lilly could pay up to $1.3 billion.
Flush with cash from its blockbuster GLP-1 drugs Mounjaro and Zepbound, Lilly has been expanding its research in genetic medicines. The Verve deal is in many ways a natural move for Lilly, as it already had an agreement with the biotech that gave it the choice to jointly develop and commercialize Verve’s lead candidate, a gene therapy aimed at lowering cholesterol.
