Beam Therapeutics to Sell Rights in Verve Licensing Deal to Lilly for $250 Million Upfront
31 Ottobre 2023 - 11:59AM
Dow Jones News
By Rob Curran
Biotech company Beam Therapeutics struck a deal with Eli Lilly
to sell to the drug giant certain rights in its
cardiovascular-disease base-editing licensing deal with Verve
Therapeutics for $250 million in cash and stock, plus milestone
payments.
Beam, based in Cambridge, Mass., will receive $200 million in
cash and a $50 million equity investment, and will be eligible to
receive up to $350 million more in milestone payments, based on
clinical-development goals.
Beam Therapeutics, was the first biotech company to get rights
to base editing technology, a less disruptive variant of the Nobel
Prize-winning Crispr gene-editing approach. Verve Therapeutics
later licensed Beam's technology to prevent cardiovascular
disease.
"We believe that single-course gene-editing treatments could be
a compelling new therapeutic option for patients at risk of
cardiovascular disease, and we look forward to working with Verve
toward that goal," said Ruth Gimeno, group vice president,
diabetes, obesity and cardiometabolic research at Lilly, in a
statement.
Write to Rob Curran at rob.curran@wsj.com
(END) Dow Jones Newswires
October 31, 2023 06:44 ET (10:44 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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