Lilly to expand gene therapy portfolio with buy of Adverum

25 October 2025

US pharma major Eli Lilly (NYSE: LLY) shares closed up 2.8%, while those of Adverum Biotechnologies (Nasdaq: ADVM) dropped 2.4% to $4.28, on news of a takeover.

The companies announced a definitive agreement for Lilly to acquire Adverum, including the latter’s lead product candidate, Ixo-vec (ixoberogene soroparvovec).

For Lilly, the acquisition furthers a recent and significant push into genetic medicines, having already acquired Prevail Therapeutics for a Parkinson’s disease gene therapy, the biotech Akouos and its slate of gene therapies for hearing loss, Sigilon Therapeutics, a developer of cell therapies for diabetes, in 2023 and Verve Therapeutics, which is focused on “one-and-done” treatments for cardiovascular disease, in 2025.

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