Shares of Verve Therapeutics surged dramatically on Tuesday, June 17, 2025, after Eli Lilly announced plans to acquire the gene-editing startup for up to $1.3 billion, marking a significant move in the race to transform cardiovascular disease treatment.
The Boston-based clinical-stage company, Verve Therapeutics, has been developing innovative gene-editing medicines aimed at delivering lifelong cardiovascular risk reduction with a single dose. Their leading candidate, VERVE-102, targets the PCSK9 gene, which plays a crucial role in cholesterol regulation and cardiovascular health. This gene-editing therapy is currently undergoing a Phase 1b clinical trial and has been granted Fast Track designation by the U.S. Food and Drug Administration (FDA), underscoring its potential to revolutionize treatment for atherosclerotic cardiovascular disease (ASCVD).
Under the terms of the agreement, Lilly will pay $10.50 per share in cash to Verve shareholders, totaling approximately $1 billion upfront. Additionally, there is a contingent value right (CVR) of $3 per share, which will be paid if Verve successfully treats at least one patient with VERVE-102 in a U.S. Phase 3 clinical trial for ASCVD within ten years of the deal's closing or termination of the CVR. This brings the total potential consideration to $13.50 per share, valuing the deal at about $1.3 billion.
Verve's stock soared 75% early Tuesday to $11.02, nearly doubling in value this year, while Eli Lilly's shares dipped slightly by less than 1% amid the news. The Financial Times had first reported the companies were nearing a deal on Monday, June 16, 2025.
Verve's CEO, Dr. Sekar Kathiresan, highlighted the company’s rapid progress, stating, "Verve was founded with one mission in mind: transform the treatment of cardiovascular disease from chronic care to a one-dose future. In just seven years, our team has progressed three in vivo gene editing products, with two currently in the clinic. Now, we will take the next steps in the drug development journey together with an ideal strategic partner in Lilly." He expressed confidence that Lilly’s global research, clinical, regulatory, and commercial capabilities will accelerate the development of these promising medicines.
Ruth Gimeno, Lilly’s group vice president of Diabetes and Metabolic Research and Development, emphasized the potential impact of VERVE-102: "It has the potential to be the first in vivo gene editing therapy for broad patient populations and could shift the treatment paradigm for cardiovascular disease from chronic care to one-and-done treatment." This sentiment reflects Lilly’s strategic expansion beyond its blockbuster diabetes and weight-loss drugs into the cardiometabolic space.
Verve’s approach uses base editing, a form of gene editing that introduces precise, one-time changes to a patient’s DNA. Their lead therapy, VERVE-102, aims to permanently turn off the PCSK9 gene in the liver, which could benefit patients with heterozygous familial hypercholesterolemia (HeFH)—a genetic condition affecting 1 in 250 people—and others with premature coronary artery disease (CAD).
Earlier clinical data fueled optimism about Verve’s technology. In April 2025, the company reported that a single infusion of VERVE-102 lowered LDL cholesterol by an average of 53%, with a maximum reduction of 69%, without any safety concerns. This contrasts with an earlier iteration, VERVE-101, which achieved up to an 84% LDL cholesterol reduction but was marred by serious adverse events, including one patient’s death from cardiac arrest and another’s heart attack shortly after treatment. VERVE-102 employs a different delivery system designed to improve safety and efficacy.
Before this acquisition, Lilly had already invested heavily in Verve’s programs. In 2023, Lilly paid $60 million to co-develop Verve’s lipoprotein(a) program, targeting another cardiovascular risk factor, and $250 million for opt-in rights to three gene-editing programs. Lilly’s acquisition likely reflects a desire for greater control over the later stages of clinical development, a move welcomed by analysts.
William Blair analyst Myles Minter described the deal as "a win for Verve shareholders," noting that although Lilly might be getting a bargain (with a fair value of $30.86 per share prior to the deal), the 115% premium, assuming full CVR payout, is significant given the challenging funding environment for gene-editing companies. The acquisition also sparked a rally in shares of other gene-editing firms, including Intellia Therapeutics, Crispr Therapeutics, and Beam Therapeutics, while Editas Medicine closed slightly lower.
Despite some skepticism from analysts like BMO Capital Markets’ Evan Seigerman, who questioned the true market need for additional genetic medicines in cholesterol management given existing treatments, others see Lilly’s move as a strategic extension of its cardiometabolic portfolio. Kevin Gade, COO at Bahl & Gaynor, pointed out that the deal keeps Lilly within a familiar therapeutic area that includes its highly successful diabetes and weight-loss drugs, Mounjaro and Zepbound, which are projected to generate over $30 billion in sales in 2025.
The acquisition is expected to close in the third quarter of 2025, pending customary conditions and the tender of a majority of Verve’s outstanding shares. Verve’s board unanimously recommends shareholders tender their shares, and key insiders, including Dr. Kathiresan and entities affiliated with GV, representing around 17.8% of shares, have agreed to support the transaction.
As the biotech industry watches closely, this deal underscores the growing interest in gene-editing therapies as potential game-changers in treating chronic diseases. If successful, Verve’s one-and-done treatments could redefine cardiovascular care, reducing the burden of lifelong medication and improving outcomes for millions worldwide.
