Verve Therapeutics Acquired by Eli Lilly in $1 Billion Deal

Paul, Weiss advised Verve Therapeutics, Inc., a Boston-based clinical-stage company developing genetic medicines for cardiovascular disease, on its all-cash acquisition by Eli Lilly and Company.

Under the transaction, Lilly acquired Verve for $10.50 per share, representing a total value of about $1 billion, plus one non-tradeable contingent value right per share for up to another $3 per share, bringing the total potential value up to about $1.3 billion. The additional payment is contingent upon the first patient being dosed with VERVE-102, currently in early clinical trials, for atherosclerotic cardiovascular disease in a U.S. Phase 3 clinical trial within 10 years after closing.

The Paul, Weiss team is led by corporate partners Krishna Veeraraghavan and Benjamin Goodchild and includes partners Timothy Cruickshank and Patricia Vaz de Almeida; intellectual property partners Jonathan Ashtor and Brianna van Kan; executive compensation partner Matthew Friestedt; antitrust partners Scott Sher and Christopher Wilson, and counsel Todd Hahn; and litigation partner Geoffrey Chepiga and counsel Natalie Kennedy.