On October 24, 2025, Eli Lilly made an announcement in a statement, revealing that it had reached an agreement to acquire Adverum Biotechnologies. Adverum is a biotech firm specializing in the treatment of ocular diseases, and this acquisition is aimed at bolstering Eli Lilly's presence in the gene therapy sector. Under the terms of the acquisition offer, Eli Lilly is set to purchase all outstanding common shares of Adverum at a price of $3.56 per share. Additionally, shareholders will receive contingent value rights valued at $8.91 per share. Should certain milestone conditions be fulfilled, the per - share price could soar to as high as $12.47. This implies that the final value of the entire transaction could potentially exceed $262 million. Adverum's flagship product, Ixo - vec, is a gene therapy designed for the treatment of wet age - related macular degeneration. At present, this promising therapy is in the midst of Phase III clinical trials, marking a crucial stage in its development journey.