Verve Therapeutics

Verve Therapeutics specializes in gene editing to develop novel in vivo (gene editing done inside the body) therapeutics for cardiovascular diseases, starting off with adults with atherosclerotic cardiovascular disease (ASCVD) and familial hypercholesterolemia (FH). It had plans to extend to other patient populations as well. The company leverages the base editing technology that targets a single base in the genome, without creating unnecessary DNA modifications, thereby designing more precisely targeted therapies. The company’s approach revolves around completely deactivating two genes—PCSK9 and ANGPTL3—in the human body that act as catalysts in regulating cholesterol. 

As of March 2024, the company had six programs in its pipeline, of which two focused on the PCSK9 gene to treat Heterozygous Familial Hypercholesterolemia (HeFH). Both of these candidates were in the clinical testing phase. Its other programs focused on the both the ANGPTL3 gene, to treat Homozygous familial hypercholesterolemia (HoFH) and Refractory hypercholesterolemia, and Lipoproteins (LPAs), both candidates were in the research stages. Its other two candidates, both in research stages, were candidates which were being developed to treat undisclosed cardiovascular and liver diseases.

Key customers and partnerships

Simultaneous to its launch in May 2019, the company secured partnerships with a few companies including Verily , Alphabet’s life sciences subsidiary, to develop new gene delivery systems based on nanoparticles. It also obtained licenses for CRISPR patents, including Cas9 and Cas12a, from the Broad Institute and Harvard University.

In July 2022, Verve and Eli Lilly entered an exclusive research partnership to advance the former’s preclinical stage in vivo gene editing programme targeting lipoprotein(a) (Lp(a)) to treat atherosclerotic cardiovascular disease (ASCVD). Through the partnership Verve Therapeutics was be responsible for advancing the research and development of the Lp(a) programme by completing Phase I clinical development, while Eli Lilly would handle the subsequent development, manufacture and commercialisation activities of the programme. Further to this, in October 2023, Eli Lilly expanded its research collaboration with Verve Therapeutics to advance the development of gene editing therapies for cardiovascular diseases.

Funding and financials

Verve Therapeutics went public on the Nasdaq Global Select Market in June 2021, raising gross proceeds of USD 306.7 million (including full exercise of underwriters’ option), marking to be one of the largest biotech IPOs in 2021. The net proceeds were earmarked to advance its clinical pipeline. The company did not report any revenue in 2021.

In November 2023, Verve announced a pricing of an underwritten public offering of 12,500,000 shares of its common stock for total gross proceeds of USD 125 million. Additionally, Verve also announced a private placement sale of 2,296,317 shares of its common stock to Eli Lilly and Company, at a price per share equal to the public offering price, for total gross proceeds of approximately USD 23 million. The company did not disclose what is would use the raised funds for.