June 16 (Reuters) - Eli Lilly ( LLY ) is in advanced

talks to acquire gene editing startup Verve Therapeutics ( VERV )

for up to $1.3 billion, aiming to strengthen its

pipeline of experimental medicines, the Financial Times reported

on Monday.

The drug maker's acquisition bid includes a payment of

almost $1 billion upfront for Verve, and a further $300 million

based on the genetic medicines company achieving certain

clinical milestones, the report said, citing people familiar

with the matter.

The deal could be announced as early as this week, provided

talks stay on track, the report added.

Verve Therapeutics ( VERV ) is currently developing a gene therapy to

reduce high cholesterol levels, which is expected to be used in

combination with other drugs.

Eli Lilly ( LLY ) declined to comment, while Verve Therapeutics ( VERV ) did

not immediately respond to a Reuters request for comment outside

regular business hours.