Eli Lilly to acquire Adverum Biotechnologies for $262m.

Eli Lilly, a medicine company, agreed to acquire Adverum Biotechnologies, a clinical-stage company pioneering the use of intravitreal gene therapy, for $262m. "Ixo-vec has the potential to transform wAMD treatment from a paradigm of chronic care with repeated intravitreal injections to a convenient one-time therapy. We are eager to welcome Adverum colleagues to Lilly and to help accelerate this innovative medicine to patients," Andrew Adams, Lilly Vice President of Molecule Discovery.