Eli Lilly joins Verve Therapeutics for gene-editing project
New England Council member, Eli Lilly, is collaborating with Verve Therapeutics on a gene-editing program with a total value of $525 million. Eli Lilly will pay $60 million to use Verve’s gene-editing technology to target a cholesterol-carrying protein. The agreement also includes potential milestone payments of up to $465 million, as well as royalties for Verve. Verve plans to test Phase 1 clinical trials, with Eli Lilly handling clinical development, manufacturing, and commercialization.
Verve Therapeutics, which focuses on eliminating cardiovascular disease associated with high cholesterol, emerged in 2019 with technology developed by Harvard scientists. The company went public in 2021 and has received investments from GV, Wellington Management Company, and Casdin Capital, as well as collaboration deals with Beam Therapeutics and Verily. Following the announcement of the collaboration, Verve’s shares rose more than 12%.
The New England Council would like to congratulate Eli Lilly and Verve Therapeutics for this collaborative effort.
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