Eli Lilly Co. to buy gene-editing startup Verve to develop cardiac drugs
Indianapolis-based Eli Lilly announced its definitive agreement to acquire Verge, a gene-editing startup, for up to $1.3 billion at $10.50 a share -- a premium of 67.5% at last closing -- with the goal to boost Verve's budding pipeline of medicine designed to target and treat a wide-range of cardiovascular-related health issues.
"Lilly is eager to welcome our Verve colleagues to Lilly and continue the development of these promising potential new medicines aimed at improving outcomes for patients with cardiovascular disease and addressing the significant unmet medical need in this space," said Ruth Gimeno, Lilly's group VP for diabetes and metabolic research and development.
Under the agreement terms, the transaction will not be subject to any financing conditions and will include a nearly $1 billion upfront payout plus a further $300 million based on certain clinical milestones.
The deal is expected to close by this year's third quarter subject to conditions.
Verve's medical treatment program, according to a Gimeno, could "shift the treatment paradigm for cardiovascular disease from chronic care to one-and-done treatment."
Meanwhile, stock shares in Verve jumped 76% to over $11 in premarket trading Tuesday morning while Lilly stock value fell 1%.
A years-long study from 2010-2022 released in November revealed how the number of dead via cardiovascular disease had surged among adults ages 25 to 64 living in rural areas.
Verve uses a next gen type of gene editing which erases and rewrites a specific gene letter.
Lilly's Gimeno says the Verve-102 program, which is currently in its Phase 1b clinal trial study and fast-tracked for FDA approval, "has the potential" to be the first "in vivo" gene editing therapy deployed to treat a broad population of patients seeking treatment for cardiac issues.
102 may be utilized for patients seeking treatment for heterozygous familial hypercholesterolemia (HeFH), which is a subset of ASCVD affecting 1 in 250 people.
On Tuesday, Verve's chief noted how in just seven years that the Verve team had progressed three in vivo gene editing products with two currently in clinics.
"Verve was founded with one mission in mind: transform the treatment of cardiovascular disease from chronic care to a one-dose future," said Verve Therapeutics co-founder and CEO Dr. Sekar Kathiresan.
Copyright 2025 UPI News Corporation. All Rights Reserved.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
San Francisco Chronicle
12 minutes ago
- San Francisco Chronicle
LSB: Q2 Earnings Snapshot
OKLAHOMA CITY (AP) — OKLAHOMA CITY (AP) — LSB Industries Inc. (LXU) on Tuesday reported profit of $3 million in its second quarter. The Oklahoma City-based company said it had profit of 4 cents per share. The chemical maker posted revenue of $151.3 million in the period.
San Francisco Chronicle
12 minutes ago
- San Francisco Chronicle
Tetra Technologies: Q2 Earnings Snapshot
THE WOODLANDS, Texas (AP) — THE WOODLANDS, Texas (AP) — Tetra Technologies Inc. (TTI) on Tuesday reported net income of $11.3 million in its second quarter. The The Woodlands, Texas-based company said it had net income of 8 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, were 9 cents per share. The oil and gas services company posted revenue of $173.9 million in the period.
USA Today
12 minutes ago
- USA Today
Fire up the AC: Sweltering US. sets new electricity consumption record
President Donald Trump has made driving down energy prices a key part of his administration's initiatives. Americans cranking up their air conditioners, fans and swamp coolers over a single hour in late July consumed more electricity than ever before as sweltering heat spread from the Midwest to the East Coast. The federal Energy Information Administration said that from 7 to 8 p.m. Eastern on July 28, Americans consumed 758,149 megawatt-hours of electricity – a new national record. And while the numbers are subject to change, the EIA said on July 29, Americans might consume even more power. An average American home consumes about 10,791 kilowatt hours of electricity annually, meaning the energy consumed on July 28 would be enough to power a single house for 70,000 years. The demand for electricity came as large, heavily populated parts of the United States suffered under high heat that could linger until the weekend. All that power came from a mix of sources, although natural gas remains the backbone of our electricity supply, providing 45% of the total, according to the EIA. Coal is the next-largest source, at 17%, while nuclear represented 13%. Solar accounted for 11%, while wind and hydropower each provided 5%. The previous hourly demand record for the continental United States was 745,020 megawatt-hours on July 15, 2024, the EIA said. The United States has been consuming more electricity per person as an increasing number of homes have air conditioners, along with demands from AI computer centers. The EIA noted that electricity consumption had been relatively flat from 2010 to 2020 as increased efficiency offset population growth, but demand has been rising since then. President Donald Trump has made driving down energy prices a key part of his administration's initiatives, and has called for significant increases in natural gas and oil drilling, along with the expansion of coal-fired power plants. His administration has proposed relaxing emission standards for coal-fired power plants, which could potentially lower generating costs. Where you live in the United States plays a significant role in how much you pay for electricity: On average, Utahns pay the lowest electric bills, at about $95 a month, whereas, in Connecticut, the average monthly bill is $218, according to a Texas-based electricity broker.
