Verve Therapeutics Strikes Gene Editing Deal With Eli Lilly
15 June 2023 - 9:16PM
Dow Jones News
By Will Feuer
Verve Therapeutics said it has struck an exclusive research
collaboration with Eli Lilly focused on advancing Verve's
preclinical in vivo gene-editing program targeting lipoprotein.
The company said elevated lipoprotein is a risk factor for
atherosclerotic cardiovascular disease, ischemic stroke, thrombosis
and aortic stenosis.
Under the terms of the deal, Verve will continue to advance the
research and development of the lipoprotein program through phase
one of clinical development. Lilly will then take over development,
manufacturing and commercialization of the program.
Verve will receive $60 million through an upfront payment and
equity investment from Lilly, which also will fund the research
costs through phase one clinical trials.
Verve is eligible to receive up to $465 million in milestone
payments and tiered sales royalties. Verve also can opt-in to
co-fund and share margins globally on the lipoprotein program
instead of receiving the milestones and royalties.
Verve Chief Executive Sekar Kathiresan said the deal will give
the company cash runway into 2026.
Shares of Verve rose 2.8% in premarket trading.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
June 15, 2023 07:01 ET (11:01 GMT)
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