Eli Lilly Acquires Verve Therapeutics in $1.3B Gene Editing Deal

Eli Lilly and Company has agreed to acquire Verve Therapeutics for up to $1.3 billion, marking a significant investment in gene editing technology for cardiovascular disease treatment. The deal, announced on June 17, 2025, includes an upfront cash payment of $1 billion, or $10.50 per share, plus a contingent value right (CVR) of $3 per share.

Deal Structure and Financial Details

Lilly's acquisition of Verve represents a 113% premium to Verve's 30-day average closing price prior to the announcement. The CVR, worth up to $300 million, is contingent on the first patient being dosed with VERVE-102 in a Phase III trial within 10 years of the deal's closing.

The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions. Verve's CEO, Sekar Kathiresan, and other major stockholders, representing approximately 17.8% of outstanding shares, have already agreed to tender their shares.

Strategic Implications for Gene Editing in Cardiovascular Disease

This acquisition positions Lilly at the forefront of gene editing technology for cardiovascular disease treatment. Ruth Gimeno, Lilly's group vice president of Diabetes and Metabolic Research and Development, stated that VERVE-102 could become the first gene editing therapy used in broad populations and "could shift the treatment paradigm for cardiovascular disease from chronic care to one-and-done treatment."

The deal builds upon an existing partnership between Lilly and Verve, which began in 2023 with a $60 million upfront payment for a preclinical cardiovascular gene editing therapy. Lilly further expanded its involvement in 2023 by acquiring opt-in rights to Verve's gene therapy programs from Beam Therapeutics for $250 million.

Verve's Pipeline and Clinical Progress

Verve's lead asset, VERVE-102, is an in vivo base editing therapy targeting PCSK9, a gene linked to cholesterol levels and cardiovascular health. The therapy is currently in a Phase Ib clinical trial for heterozygous familial hypercholesterolemia (HeFH), with a Phase II trial expected to begin in the second half of 2025.

VERVE-102 represents an improvement over its predecessor, VERVE-101, which was discontinued due to safety concerns. The new therapy utilizes a different lipid nanoparticle for delivery, addressing previous issues with elevated liver enzymes.

Verve's pipeline also includes VERVE-201 for homozygous familial hypercholesterolemia (HoFH) and refractory hypercholesterolemia, as well as three additional preclinical programs targeting cardiovascular disease and an undisclosed liver condition.