Eli Lilly is in advanced talks to buy gene editing start-up Verve Therapeutics for up to $1.3bn in what would be the latest acquisition by the world’s largest drugmaker as it seeks to boost its pipeline of experimental medicines. As part of the deal, Eli Lilly would pay almost $1bn upfront for Verve, which is developing a gene-editing therapy to treat bad cholesterol, and a further $300mn based on the biotech company achieving certain clinical milestones, two people familiar with the matter said. The deal values Verve at about double its current share price. The Boston-based company’s market capitalisation stood at just under $559mn after trading closed on Monday. Eli Lilly declined to comment. Verve did not immediately respond to requests for comment. The deal could be announced as soon as this week, provided talks do not falter and the timeline slips, the people said. The late-stage talks come during a slow period for dealmaking in the pharmaceutical industry. Despite some big drugmakers needing to address the imminent expiration of lucrative patents, companies have decided not to spend on large mergers and acquisitions.

Full report : Eli Lilly to buy gene-editing biotech Verve for up to $1.3 billion.