US pharmaceutical giant Eli Lilly has agreed to acquire gene-editing biotechnology company Verve, further expanding its presence in the rapidly evolving genetic engineering market. The deal is expected to enhance Eli Lilly’s capabilities in treating genetic diseases and improving patient outcomes.
Verve, a privately-held firm, focuses on developing novel therapies using the Crispr-Cas9 gene editing technology. This cutting-edge approach has shown promising results in treating various genetic disorders. By acquiring Verve, Eli Lilly aims to bolster its pipeline of innovative treatments and stay competitive in the growing gene-editing industry.
Financial details of the deal were not disclosed, but experts speculate that the acquisition could be valued in the hundreds of millions of dollars. The move marks a significant development in Eli Lilly’s efforts to expand its product portfolio and improve patient care through cutting-edge genetic technologies.
Source: https://www.ft.com/content/53d021c9-d15f-4471-86ef-e9abfc3ae7db