Eli Lilly is taking a big swing into gene editing with a deal to buy Verve (NASDAQ:VERV) Therapeutics for up to $1.3 billion, paying $10.50 per share in cash plus a contingent rig

(Reuters) -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.

Boston-based Verve is a rare example of a gene editing company targeting a disease that affects a large population, offering better commercial prospects.