Lilly to Pay Beam Up to $600 Million for DNA-Editing Tech
- Lilly to gain rights to treatments for cardiovascular disease
- Beam earlier gained commercial rights to treatment from Verve
Eli Lilly headquarters in Indianapolis, Indiana, US.
Photographer: AJ Mast/BloombergThis article is for subscribers only.
Eli Lilly & Co. is buying rights from Beam Therapeutics Inc. to develop and sell treatments for heart disease that make use of an experimental gene-editing technology.
Lilly will pay Beam $200 million upfront and make a $50 million equity investment in the company, the companies said Tuesday in a statement. Lilly, which has deep expertise in heart disease, will pay as much as an additional $350 million if the programs hit certain goals.