Lilly Purchases Product Rights to Verve’s Lead Cardiovascular Programs from Beam Therapeutics
BOSTON, Oct. 31, 2023 (GLOBE NEWSWIRE) — Verve Therapeutics, Inc., a clinical-stage biotechnology company pioneering a new approach to the care of cardiovascular disease with single-course gene editing medicines, today announced the expansion of its relationship with Eli Lilly and Company (Lilly). Lilly has acquired from Beam Therapeutics certain product rights to Verve’s cardiovascular in vivo gene editing programs targeting PCSK9 and ANGPTL3, as well as a third undisclosed cardiovascular disease (CVD) target. Verve’s PCSK9 product candidates, VERVE-101 and VERVE-102, and ANGPTL3 product candidate, VERVE-201, are designed to potently and durably lower low-density lipoprotein cholesterol throughout the lifetime of patients with or at risk for atherosclerotic cardiovascular disease (ASCVD), the most common form of CVD.
For the PCSK9 and ANGPTL3 product candidates, Lilly now holds the product rights previously held by Beam, including the right to opt-in to share 33% of worldwide development expenses and to jointly commercialize and share profits and expenses related to commercialization in the United States on a 50/50 basis. Verve holds all product rights for the PCSK9 and ANGPTL3 programs outside the United States. Under the collaboration agreement, Verve retains control of the development and commercialization of all collaboration products. Additionally, Lilly also acquired Beam’s right to opt-in to co-fund and share in potential profits on similar terms for a third undisclosed CVD target.
“We are thrilled to gain Lilly as a potential long-term partner for the next stage of development of our gene editing medicines for people with ASCVD,” said Sekar Kathiresan, M.D., co-founder and chief executive officer of Verve. “Lilly brings valuable know-how in the cardiometabolic space, as well as commercialization expertise of products for large indications. Lilly’s significant investment in acquiring Beam’s product rights confirms Lilly’s confidence in Verve’s programs and the supporting preclinical and interim clinical data. We continue to be impressed by Lilly’s commitment to genetic medicines, and their team’s interest in applying gene editing technology to the cardiometabolic space closely aligns with Verve’s vision.”
Ruth Gimeno, Ph.D., group vice president, diabetes, obesity and cardiometabolic research at Lilly, added: “Gene editing is an exciting new frontier for medicine, potentially allowing durable efficacy with one-time treatment. Verve is a leader in developing gene editing therapies for cardiovascular disease, and we are pleased to expand our relationship with Verve to develop much needed new treatment options for people with cardiovascular disease.”
This transaction represents an expansion of the relationship between Verve and Lilly. Previously, in June 2023, Verve and Lilly had entered into an exclusive research collaboration focused on advancing Verve’s preclinical stage in vivo gene editing program targeting lipoprotein(a).
About Verve Therapeutics
Verve Therapeutics, Inc. (Nasdaq: VERV) is a clinical-stage genetic medicines company pioneering a new approach to the care of cardiovascular disease, potentially transforming treatment from chronic management to single-course gene editing medicines. The company’s initial three programs – VERVE-101, VERVE-102, and VERVE-201 – target genes that have been extensively validated as targets for lowering low-density lipoprotein cholesterol (LDL-C), a root cause of cardiovascular disease, in order to durably reduce blood LDL-C levels. VERVE-101 and VERVE-102 are designed to permanently turn off the PCSK9 gene in the liver and are being developed initially for heterozygous familial hypercholesterolemia (HeFH) and ultimately to treat atherosclerotic cardiovascular disease (ASCVD) patients not at goal on oral therapy. VERVE-201 is designed to permanently turn off the ANGPTL3 gene in the liver and is initially being developed for homozygous familial hypercholesterolemia (HoFH) and ultimately to treat patients with refractory hypercholesterolemia. For more information, please visit www.VerveTx.com.
Cautionary Note Regarding Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties, including statements regarding the potential benefits and results that may be achieved through the collaboration with Lilly; whether Lilly will exercise its opt-in rights with respect to any of the programs under the collaboration; and the therapeutic potential of the company’s programs. All statements, other than statements of historical facts, contained in this press release, including statements regarding the company’s strategy, future operations, future financial position, prospects, plans and objectives of management, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in, or implied by, such forward-looking statements. These risks and uncertainties include, but are not limited to, risks associated with the company’s limited operating history; the company’s ability to timely submit and receive approvals of regulatory applications for its product candidates; advance its product candidates in clinical trials; initiate, enroll and complete its ongoing and future clinical trials on the timeline expected or at all; correctly estimate the potential patient population and/or market for the company’s product candidates; replicate in clinical trials positive results found in preclinical studies and/or earlier-stage clinical trials of VERVE-101, VERVE-102, and VERVE-201; advance the development of its product candidates under the timelines it anticipates in current and future clinical trials; obtain, maintain or protect intellectual property rights related to its product candidates; manage expenses; and raise the substantial additional capital needed to achieve its business objectives. For a discussion of other risks and uncertainties, and other important factors, any of which could cause the company’s actual results to differ from those contained in the forward-looking statements, see the “Risk Factors” section, as well as discussions of potential risks, uncertainties and other important factors, in the company’s most recent filings with the Securities and Exchange Commission and in other filings that the company makes with the Securities and Exchange Commission in the future. In addition, the forward-looking statements included in this press release represent the company’s views as of the date hereof and should not be relied upon as representing the company’s views as of any date subsequent to the date hereof. The company anticipates that subsequent events and developments will cause the company’s views to change. However, while the company may elect to update these forward-looking statements at some point in the future, the company specifically disclaims any obligation to do so.
Verve Investor Contact:
Jen Robinson
Verve Therapeutics, Inc.
jrobinson@vervetx.com
Verve Media Contact
Ashlea Kosikowski
1AB
ashlea@1abmedia.com
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