Eli Lilly agreed to acquire Verve Therapeutics for approximately $1 billion up front, adding a potential treatment for cardiovascular disease to its portfolio.

The acquisition aligns with Eli Lilly’s broader diversification strategy beyond its core diabetes and obesity treatment portfolio.

Eli Lilly has struck a deal to buy Crispr gene-editing start-up Verve Therapeutics for up to $1.3bn, the latest acquisition by the world’s most valuable drugmaker as it seeks to boost its pipeline of experimental medicines.