Shares in Verve Therapeutics (NASDAQ: VERV) soared 80.5% this week on the news of an agreement for Eli Lilly (NYSE: LLY) to acquire Verve. The deal centers on an exciting cardiovascular health medicine program,

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

Eli Lilly agreed to acquire Verve Therapeutics for about $1 billion upfront, adding a potential treatment for cardiovascular disease to its portfolio. Under the agreement, the pharmaceutical company will buy all of the gene-editing startup’s shares outstanding for $10.