Verve Therapeutics Soars 75% After Eli Lilly Buyout

• Verve Therapeutics (VERV) shares jumped 75% to $11.00 after Eli Lilly (LLY) announced a $1.0 billion acquisition, offering $10.50 per share in cash plus up to $3.00 per share via a contingent value right, totaling up to $1.3 billion.
• Verve, focused on single-dose gene-editing therapies for cardiovascular disease, has advanced three in vivo products, with two in clinical trials, aiming to shift from chronic care to one-time treatments.
• The acquisition by Lilly is expected to accelerate Verve’s drug development by leveraging Lilly’s global expertise, strengthening both companies’ positions in the growing field of genetic medicine.

Verve Therapeutics (VERV), a Boston-based company focused on developing genetic medicines for heart disease, saw its shares surge 75% to $11.00 in early trading on Tuesday following the announcement of its acquisition by Eli Lilly and Company (LLY). The deal, valued at approximately $1.0 billion, involves Lilly offering $10.50 per share in cash, with an additional potential payment of up to $3.00 per share through a non-tradeable contingent value right, bringing the total possible value to $1.3 billion. This acquisition marks a significant milestone for Verve, which aims to revolutionize cardiovascular treatment by shifting from ongoing care to single-dose gene-editing therapies.

Verve has made notable progress in its mission since its founding seven years ago, advancing three in vivo gene-editing products, two of which are currently in clinical trials. Sekar Kathiresan, Verve’s co-founder and CEO, emphasized the company’s goal of transforming heart disease treatment, highlighting the potential of their therapies to provide long-lasting solutions with a single dose. The partnership with Lilly, a global pharmaceutical leader, is expected to accelerate Verve’s drug development efforts by leveraging Lilly’s extensive expertise in research, clinical trials, regulatory processes, and commercialization.

The acquisition aligns with the growing interest in gene-editing technologies, which hold promise for addressing complex diseases like cardiovascular conditions at their genetic roots. Verve’s approach involves editing genes directly within the body to correct or prevent issues that lead to heart disease, a leading cause of death globally. Lilly’s acquisition reflects confidence in the potential of Verve’s pipeline to deliver innovative treatments, potentially reshaping how heart disease is managed in the future.

The deal’s structure, combining an upfront cash payment with a contingent value right, provides Verve shareholders with immediate value and the possibility of additional payouts based on future milestones, such as regulatory approvals or clinical successes. This strategic move by Lilly strengthens its position in the rapidly evolving field of genetic medicine, while Verve gains access to resources that could help bring its therapies to patients more quickly. As the tender offer progresses, investors and industry observers will be watching closely to see how this partnership advances the fight against cardiovascular disease.

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