2023-06-15 06:56:49 ET
- Verve Therapeutics ( NASDAQ: VERV ) exclusively partners with Eli Lilly ( NYSE: LLY ) to focus on advancing Verve’s preclinical stage in vivo gene editing program targeting lipoprotein.
- Elevated Lp(a) is an established and genetically validated, independent risk factor for atherosclerotic cardiovascular disease (ASCVD), ischemic stroke, thrombosis, and aortic stenosis.
- Under the terms of the collaboration, the company will advance the research and development of the Lp(a) program through the completion of Phase 1 clinical development, while Lilly will be responsible for subsequent development, manufacturing, and commercialization of the Lp(a) program.
- Under the terms of the agreement, Verve will receive $60M consisting of an upfront payment and equity investment. Research program costs through Phase 1 clinical trials will be funded by Lilly.
- The compant is also eligible to receive up to $465M in research, development, and commercial milestones, as well as tiered royalties on global net sales and following the completion of Phase 1 clinical trials, Verve has the right to opt-in to co-fund and share margins globally on the Lp(a) program (in lieu of receipt of milestones and royalties).
- Verve expects the $60M from Lilly to have a cash runway that extends into 2026.
- VERV +1.1% after hours to $17.29
- Source: Press Release
For further details see:
Verve teams with Lilly to advance vivo gene editing program targeting Lp(a)