07:15 AM EDT, 06/17/2025 (MT Newswires) -- Eli Lilly ( LLY ) said Tuesday that it has agreed to acquire Verve Therapeutics ( VERV ) for up to $1.3 billion to advance gene-editing therapies for cardiovascular disease.

Lilly will pay $10.50 per share in cash, with the potential for additional payments based on clinical milestones, the companies said. Verve's shares closed at $6.27 on Monday.

Verve's lead program, VERVE-102, targets PCSK9 to reduce cardiovascular risk with a single dose and is currently in phase 1b trials, the companies said.

The deal is expected to be completed in Q3.

Shares of Verve were up 76% in recent Tuesday premarket activity.