Adverum, hammered by gene therapy downturn, sells to Lilly in unusual deal

Lilly to Buy Eye Gene Therapy Company Adverum Biotechnologies

Eli Lilly & Co. said it reached a deal to buy Adverum Biotechnologies Inc., a company working to treat blindness, for $3.56 a share plus contingent value rights that could bring the value up to $12.47 a share, as it continues a push into gene therapies.

Adverum, hammered by gene therapy downturn, sells to Lilly in unusual deal

Lilly’s upfront offer for Adverum, the developer of a gene therapy for age-related macular degeneration, is less than the company’s previous closing share price.

Eli Lilly Strengthens Gene Therapy Portfolio Through Adverum Acquisition

Eli Lilly announced it has reached an agreement to acquire Adverum Therapeutics, a biotech with expertise in developing gene therapies to treat eye diseases. A strong draw of the company for Lilly is its lead candidate ixoberogene soroparvovec (Ixo-vec), a gene therapy for wet age-related macular degeneration (AMD) designed to be a one-time treatment for the condition. Ixo-vec was developed using the company’s next-generation adeno-associated vi…

Eli Lilly Enters Ophthalmology Sector with Acquisition of Adverum Biotechnologies

Eli Lilly and Company and Adverum Biotechnologies announced that they have entered into a definitive agreement for Lilly to acquire Adverum Biotechnologies, including its lead gene therapy product candidate, Ixo-vec. Ixo-vec is an intravitreal, single-administration gene therapy designed for the treatment of wet age-related macular degeneration (AMD). Unlike current anti-VEGF therapies that require frequent injections, Ixo-vec delivers continuou…

Lilly to buy Adverum Biotechnologies

INDIANAPOLIS and REDWOOD CITY, Calif.— Eli Lilly and Company announced an agreement to acquire Adverum Biotechnologies, a clinical-stage gene therapy firm developing treatments for ocular diseases, including its lead candidate Ixo-vec, designed to address wet age-related macular degeneration (wAMD) with a single intravitreal dose.Under the terms of the deal, Lilly will initiate a tender offer to buy all outstanding shares of Adverum common stock…

Adverum (ADVM) Stock Skyrockets on News of Lilly’s $12.47/Share Gene Therapy Deal!

Sources: Official press releases and filings investors.adverum.com investors.adverum.com, Reuters, Investing.com, Fierce Biotech fiercebiotech.com, and analyst reports marketbeat.com marketbeat.com. All data as of market close Oct. 23, 2025 and news through Oct. 24, 2025. The post Adverum (ADVM) Stock Skyrockets on News of Lilly’s $12.47/Share Gene Therapy Deal appeared first on TechStock².