Verve Therapeutics to be Acquired by Eli Lilly for $1 Billion

Paul, Weiss is advising 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 agreement, Lilly will acquire 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 deal is expected to close in the third quarter of 2025.

The Paul, Weiss team is led by corporate partners Krishna Veeraraghavan and Benjamin Goodchild, and includes partners John Kennedy, 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, Christopher Wilson and Ross Ferguson and counsel Todd Hahn; litigation partners Elizabeth Weiswasser and Geoffrey Chepiga, and counsel Pietro Signoracci and Audrey Paquet; and tax partner Brian Krause.