Eli Lilly Acquires Adverum Biotechnologies, Advancing Gene Therapy for Ocular Diseases
Indianapolis-based pharmaceutical giant Eli Lilly has announced its acquisition of Adverum Biotechnologies, a clinical-stage company focused on gene therapies for ocular diseases. This move, reported on October 24, 2025, by Fierce Biotech, marks a significant development in the landscape of treatments for inherited retinal diseases (IRDs) and other vision-threatening conditions.
For the inherited retinal disease community, this acquisition signals a continued commitment from major pharmaceutical companies to invest in innovative genetic medicines for eye conditions. While Adverum's lead candidate, ixo-vec, is currently in Phase 3 development for wet age-related macular degeneration (wAMD), the broader implications for gene therapy research and development in ophthalmology are substantial.
Key Facts from the Acquisition
Eli Lilly is acquiring Adverum Biotechnologies for a deal potentially valued at up to $261.7 million. The primary asset in this acquisition is ixo-vec (ixoberogene soroparvovec), an adeno-associated virus (AAV)-based gene therapy designed as a one-time intravitreal injection for wAMD. Adverum initiated the Phase 3 ARTEMIS study for ixo-vec in March 2025, with screening for the trial completing by September 2025. The company had been touting ixo-vec as a potential