On June 15, 2023, Verve Therapeutics, Inc. announced an exclusive research collaboration with Eli Lilly and Company focused on advancing Verve’s preclinical stage in vivo gene editing program targeting lipoprotein(a) (Lp(a)). 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, Verve will advance the research and development of the Lp(a) program through the completion of Phase 1 clinical development. Lilly will be responsible for subsequent development, manufacturing, and commercialization of the Lp(a) program. Under the terms of the agreement, Verve will receive $60 million consisting of an upfront payment and equity investment. Research program costs through Phase 1 clinical trials will be funded by Lilly. Verve is also eligible to receive up to $465 million in research, development, and commercial milestones, as well as tiered royalties on global net sales. In addition, 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). The closing of the transaction is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act).

Wilson Sonsini advised Verve Therapeutics on IP matters related to the transaction. The team included Vern Norviel, Clark Lin, Angel Wang, Ying Chen, Sherrie Holdman, and Rida Atif.

For more information, please see the press release.