Eli Lilly acquires Verve Therapeutics in US$1.3B gene editing deal

USA—Eli Lilly has agreed to acquire Verve Therapeutics, a clinical-stage biotech specializing in gene editing treatments for cardiovascular disease, in a deal valued at up to US$1.3 billion.

Under the agreement, Lilly will pay $10.50 per share in cash for all outstanding Verve shares, with an additional contingent value right (CVR) of up to $3.00 per share based on the achievement of certain clinical milestones. This brings the total potential deal value to approximately $1.3 billion.

Verve Therapeutics is developing innovative one-time gene editing therapies aimed at addressing the underlying causes of atherosclerotic cardiovascular disease (ASCVD).

Its lead candidate, VERVE-102, targets the PCSK9 gene, which plays a key role in cholesterol regulation and cardiovascular health.

This therapy is designed as a single administration treatment and is currently in Phase 1b clinical trials, having received Fast Track designation from the U.S. Food and Drug Administration.

 VERVE-102 has shown promising results, outperforming Novartis’ cholesterol drug Leqvio in reducing cholesterol levels in recent studies.

The acquisition price represents a 113% premium over Verve’s recent 30-day average trading price, reflecting Lilly’s strong interest in expanding its portfolio in genetic medicines and cardiovascular treatments.

Following the announcement, Verve’s shares surged by 43% on Nasdaq, opening at US$11.03 on June 17, 2025.

William Blair analyst Myles Minter described the deal as a bargain for Lilly, noting that the company gains full access to Verve’s promising pipeline at a price well below his prior fair value estimate of US$30.86 per share.

He also highlighted the strategic value for Lilly in gaining greater control over the later-stage development of VERVE-102, given the positive Phase Ib data and the drug’s potential to transform cardiovascular care from chronic management to a one-time treatment.

This acquisition fits into Lilly’s broader strategy to bolster its presence in cardiometabolic diseases and genetic medicine.

Earlier in 2025, Lilly also made significant investments by acquiring a cancer asset from Scorpion Therapeutics for up to US$2.5 billion and agreeing to acquire pain treatment specialist SiteOne Therapeutics for up to US$1 billion.

Despite economic uncertainties in the U.S., pharmaceutical mergers and acquisitions have accelerated, with total deal values in Q1 2025 doubling compared to the previous quarter.

Other notable deals include BioNTech’s US$1.25 billion acquisition of CureVac and AstraZeneca’s US$5.2 billion partnership with CSPC Pharmaceuticals in China.

The Verve acquisition is expected to close in the third quarter of 2025, subject to customary conditions including the tender of a majority of Verve’s outstanding shares.

Verve’s board has unanimously recommended shareholders accept the offer, and significant stockholder support has already been secured.

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