Lilly acquires Beam's opt-in rights to Verve programs
US biotech Beam Therapeutics (Nasdaq: BEAM) today announced that Eli Lilly (NYSE: LLY) has agreed to acquire certain rights under Beam’s amended collaboration and license agreement with Verve Therapeutics (Nasdaq: VERV), including Beam’s opt-in rights to co-develop and co-commercialize Verve’s base editing programs for cardiovascular disease, which includes programs targeting PCSK9, ANGPTL3 and an undisclosed liver-mediated, cardiovascular target.
Under the terms of the agreement, Beam will receive a $200 million upfront payment and $50 million equity investment. Beam is also eligible to receive up to $350 million in potential future development-stage payments upon the completion of certain clinical, regulatory and alliance events for a total of up to $600 million in potential total deal consideration.
Beam’s shares were up 13.5% at $21.70 by late-morning trading.
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