1 year ago
Eli Lilly to Acquire Gene-Editing Biotech Verve Therapeutics for $1.3B
Imagine a big medicine company, Eli Lilly, buying a gene-editing company called Verve.
Eli Lilly will pay $1.3 billion, or about $13.50 per share to do this.
Verve is working on gene-editing technology, which is like changing the instructions in our bodies to prevent diseases.
Eli Lilly hopes to use this to develop new medicines and grow.
Verve's stock price shot up after the announcement, while Eli Lilly's went down a bit.
This deal gives Eli Lilly full control over a program to reduce plaque buildup in arteries.
Eli Lilly will acquire Verve Therapeutics for $1.3 billion.
The deal involves $10.50 per share in cash and a contingent value right of up to $3 per share.
The acquisition is expected to close in the third quarter of the current year.
Verve's shares increased 75.12% while Eli Lilly's shares decreased 1.45% at the market open.
Eli Lilly aims to expand its experimental medicine portfolio, focusing on long-term growth.
- Who
- Eli Lilly & Co. is acquiring Verve Therapeutics Inc.
- What
- Eli Lilly is acquiring Verve Therapeutics.
- Where
- Not explicitly stated.
- When
- The deal was announced on June 17, 2025. Expected to close in Q3 of current year.
- Why
- Eli Lilly aims to expand its experimental medicine efforts for long-term growth.
Challenges of Gene Editing
Commercial Prospects of Gene Editing
Investment and Commercial Prospects
Challenges of Gene Editing
Gene editing technology has struggled to attract investors.
Commercial Prospects of Gene Editing
Verve is a rare example of a gene editing company targeting a disease that affects a large population and offering better commercial prospects.
Key facts
- Acquisition Price
- $1.3 billion
- Price per Share
- Up to $13.50
- Closing Date
- Expected in Q3 of current year
- Verve Share Change
- Up 75.12% at market open
- Eli Lilly Share Change
- Down 1.45% at market open
