Lilly agrees to acquire Verve Therapeutics for up to about $1.3B including a CVR

Eli Lilly/VERVE-102 (PCSK9 base editor)

Lilly agreed to buy Verve Therapeutics for $10.50 per share in cash (about $1.0 billion) plus a contingent value right worth up to $3.00 per share, for up to $1.3 billion total. Verve develops one-time gene-editing treatments using base editing to switch off cholesterol genes like PCSK9 in the liver.

• Upfront: approximately $1.0 billion; contingent payments: up to $300 million based on clinical milestones.
• Verve's VERVE-102 targets PCSK9, a gene linked to high cholesterol and cardiovascular risk.
• Therapy uses base editing, a form of gene editing causing one-time DNA changes.
• VERVE-102 received Fast Track designation; expected launch in the next decade.