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Eli Lilly (NYSE:LLY) is reportedly nearing a deal to acquire gene editing startup Verve Therapeutics (NASDAQ:VERV) for up to $1.3B, the Financial Times reported.
The drugmaker’s acquisition offer includes an upfront payment of nearly $1B for Verve, with an additional $300M contingent on the genetic medicine company meeting specific clinical milestones, the report said, citing sources familiar with the matter.
The deal could be announced as soon as this week, assuming negotiations continue to progress smoothly, the report noted.
Verve Therapeutics (NASDAQ:VERV) shares surged nearly 75% premarket to $10.96 following the report. The company is currently advancing a pipeline of single-course in vivo gene editing programs intended to safely inactivate genes in the liver that contribute to atherosclerotic cardiovascular disease risk.
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