Eli Lilly to Acquire Crispr Gene-Editing Biotech Verve in $1.3 Billion Deal
Eli Lilly, the world’s most valuable pharmaceutical company, has announced a deal to acquire Verve Therapeutics, a pioneering biotech company focused on gene-editing therapies, for up to $1.3 billion. The move is part of Lilly’s ongoing strategy to expand its pipeline of experimental treatments and maintain a competitive edge in the rapidly evolving biotech space.
Under the agreement, Lilly will pay approximately $1 billion upfront in cash, with an additional $300 million contingent on Verve meeting specific clinical development milestones. The deal values Verve shares at $13.50 if all milestones are achieved—more than double the company’s 30-day average share price.
Verve Therapeutics is developing a cutting-edge Crispr-based therapy targeting PCSK9, a gene associated with cholesterol levels and cardiovascular risk. The therapy, which showed promise in early-stage trials, aims to treat a genetic form of high cholesterol and early-stage coronary artery disease. It is set to enter Phase 2 clinical trials later this year.
This acquisition marks one of the first major public buyouts of a biotech company utilizing Crispr gene-editing technology. It also signals renewed momentum in the biotech M&A space, which has been relatively quiet due to regulatory and market uncertainty.
Despite challenges facing the broader gene-editing sector—including political pressures and shifting regulations—recent deals suggest a resurgence in biopharma activity. Sanofi recently announced a deal worth up to $9.5 billion with Blueprint Medicines, and Bristol Myers Squibb inked a potential $11.1 billion partnership with BioNTech.
Unlike many of its peers, Eli Lilly is under less pressure to offset losses from upcoming patent expirations, thanks to surging revenue from blockbuster diabetes and obesity treatments Mounjaro and Zepbound, which are expected to bring in more than $30 billion this year.
Lilly’s acquisition of Verve follows other recent investments in experimental therapies, including up to $2.5 billion for cancer-focused Scorpion Therapeutics and up to $1 billion for SiteOne Therapeutics, a biotech working on new pain treatments.
The Verve deal is expected to close in the third quarter of 2025. Eli Lilly was advised by Kirkland & Ellis, while Verve received counsel from Centerview Partners, Guggenheim Securities, and Paul Weiss.
