Verve Therapeutics Scores $225M in Public Offering, Partners with Vertex on Gene Editing
Verve Therapeutics has entered a significant global research collaboration with Vertex Pharmaceuticals for an in vivo gene editing program targeting a liver disease. This four-year partnership comes as Verve announces an upsized public offering, raising approximately $225 million.
The collaboration, facilitated by Cooley LLP, involves an upfront payment of $60 million, including a $35 million equity investment from Vertex. Verve is also set to receive success payments, milestones, and royalties. The deal follows Verve's recent upsized public offering, where it sold 8,333,334 shares at $27.00 each, before expenses.
Verve has granted the underwriters a 30-day option to purchase up to 1,250,000 additional shares at the same price. This strategic move allows Verve to strengthen its financial position and advance its gene editing therapies.
The collaboration with Vertex Pharmaceuticals and the successful public offering position Verve Therapeutics well for its ongoing research and development in gene editing for liver diseases. These partnerships and funding will support Verve's mission to deliver innovative therapies to patients.
