M&A Deal Summary

Lilly Acquires Adverum

On October 24, 2025, Lilly acquired life science company Adverum

Acquisition Highlights
  • This is Lilly’s 31st transaction in the Life Science sector.
  • This is Lilly’s 33rd transaction in the United States.
  • This is Lilly’s 13th transaction in California.

M&A Deal Summary

Date 2025-10-24
Target Adverum
Sector Life Science
Buyer(s) Lilly
Deal Type Add-on Acquisition
Advisor(s) Aquilo Partners (Financial)
Cooley (Legal)

Target

Adverum

Redwood City, California, United States
Adverum is a clinical-stage biotechnology company focused on discovering and developing novel gene therapies to transform the lives of patients with sight-threatening ophthalmic diseases. Adverum Biotechnologies was founded in 2006 and is based in Redwood City, California.

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Buyer(S) 1

Buyer

Lilly

Indianapolis, Indiana, United States

Category Company
Founded 1876
Sector Life Science
Employees43,000
Revenue 45.0B USD (2024)
DESCRIPTION
Entrance to Eli Lilly's campus in Indianapolis, Indiana.
Entrance to Eli Lilly's campus in Indianapolis, Indiana.

Lilly discovers, develops, manufactures, and markets products in two business segments—human pharmaceutical products and animal health products. The mission of its human pharmaceutical business is to make medicines that help people live longer, healthier, more active lives. Most of the products Lilly sells were discovered or developed by its own scientists, and the Company's success depends to a great extent on its ability to continue to discover, develop, and bring to market innovative new medicines. The company's animal health business, operating through its Elanco division, develops, manufactures, and markets products for both food animals and companion animals. The company manufactures and distributes its products through facilities in the US, Puerto Rico, and 11 other countries. Lilly was founded in 1876 and is based in Indianapolis, Indiana.


DEAL STATS #
Overall 38 of 38
Sector: Life Science M&A 31 of 31
Type: Add-on Acquisition M&A Deals 30 of 30
State: California M&A 13 of 13
Country: United States M&A 33 of 33
Year: 2025 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-17 Verve Therapeutics

Cambridge, Massachusetts, United States

Verve Therapeutics is a genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases. Its lead product candidate is VERVE-101, a single-course gene editing treatment that permanently turns off the PCSK9 gene in the liver. Verve Therapeutics was founded in 2018 and is based in Cambridge, Massachusetts.

Buy $1.3B