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.

Shares of Verve Therapeutics skyrocketed 75% Tuesday morning after Eli Lilly announced that it would acquire the gene-editing startup for about $1.3 billion.