Eli Lilly agreed to acquire Verve Therapeutics for about $1 billion upfront, adding a potential treatment for cardiovascular disease to its portfolio.Under the agreement, the pharmaceutical company will buy all of the gene-editing startup’s shares outstanding for $10.

Eli Lilly has agreed to acquire cardiovascular disease treatment specialist Verve Therapeutics in a deal potentially rising to $1.3bn, with market analysis describing the deal as a “bargain”. According to the transaction,

Eli Lilly will acquire Verve Therapeutics for up to $1.3 billion, the companies said on Tuesday. Verve is developing therapies targeting genes that regulate cholesterol in the liver.