Eli Lilly to buy Verve Therapeutics for up to $1.3 Billion

Eli Lilly LLY is taking a big swing into gene editing with a deal to buy Verve VVERV Therapeutics for up to $1.3 billion, paying $10.50 per share in cash plus a contingent right worth up to $3.00 more.

Under the agreement, Lilly will launch a tender offer for Verve's outstanding stock at $10.50 a shareabout a 113% premium to Verve's 30-day VWAP as of June 16totaling roughly $1 billion at closing. Each share also carries a non-tradeable contingent value right that can deliver up to $3.00 more, bringing the total possible consideration to $13.50 per share (?$1.3 billion).

Verve's shares jumped about 78% in premarket trading on the news this morning. Boston-based Verve is developing single-course in vivo base editing therapies targeting liver genes implicated in atherosclerotic cardiovascular disease. Its lead candidate, VERVE-102, is in Phase 1b trials for familial hypercholesterolemia and premature coronary artery disease and carries FDA Fast Track designation.

This acquisition plugs Lilly directly into cutting-edge gene editing, supplementing its large cardiovascular franchise with a potential one-and-done therapeutic approach. A successful base editing therapy could redefine how chronic heart disease is managedshifting care from lifelong regimens to single-treatment cures.

Investors will be watching regulatory progress for VERVE-102, data from the ongoing Phase 1b study and how Lilly integrates Verve's specialized R&D into its broader pipeline. Early clinical readouts and FDA feedback will be key catalysts for realizing the acquisition's full value.