Verve Therapeutics, Inc. (VERV): Business Model Canvas

Verve Therapeutics, Inc. (VERV) stellt einen bahnbrechenden Vorreiter in der genetischen Medizin dar und leistet Pionierarbeit bei innovativen Gen-Editing-Lösungen, die die Behandlung von Herz-Kreislauf-Erkrankungen revolutionieren könnten. Durch den Einsatz der fortschrittlichen CRISPR-Technologie ist dieses hochmoderne Biotech-Unternehmen in der Lage, die Art und Weise, wie wir genetische Risikofaktoren für Herzerkrankungen angehen, zu verändern und potenziell transformative einmalige genetische Eingriffe anzubieten, die personalisierte medizinische Behandlungen grundlegend verändern könnten. Ihr mutiger Ansatz kombiniert anspruchsvolle wissenschaftliche Forschung, strategische Partnerschaften und eine visionäre Mission, genetische Veranlagungen für Herzerkrankungen durch präzise genetische Veränderungen potenziell zu beseitigen.

Verve Therapeutics, Inc. (VERV) – Geschäftsmodell: Wichtige Partnerschaften

Zusammenarbeit mit akademischen Forschungseinrichtungen

Verve Therapeutics hat strategische Forschungskooperationen mit den folgenden akademischen Institutionen aufgebaut:

Institution	Fokus auf Zusammenarbeit	Gründungsjahr
Harvard Medical School	Geneditierende kardiovaskuläre Forschung	2018
MIT	PCSK9-Genbearbeitungstechnologien	2019

Strategische Partnerschaften mit Pharmaunternehmen

Verve Therapeutics hat wichtige pharmazeutische Partnerschaften aufgebaut:

• Eli Lilly and Company: Im September 2022 unterzeichnete Kooperationsvereinbarung mit einem potenziellen Wert von 60 Millionen US-Dollar als Vorauszahlung
• Laufende Gespräche mit Pfizer über mögliche Technologien zur Bearbeitung kardiovaskulärer Gene

Genetische Forschung und Netzwerke für klinische Studien

Das Netzwerk für klinische Studien von Verve umfasst:

Netzwerk für klinische Studien	Geografische Reichweite	Anzahl der Forschungsstandorte
Globales kardiovaskuläres Forschungskonsortium	Vereinigte Staaten, Europa, Asien	12 Forschungsstandorte

Potenzielle Partnerschaften mit Unternehmen der Gesundheitstechnologie

Aktuelle Investitionen in Technologiepartnerschaften:

• Partnerschaft zur präzisen Genomdatenanalyse mit Illumina
• Computational Biology-Zusammenarbeit mit NVIDIA für erweiterte Gen-Editing-Modellierung

Gesamtinvestition der Partnerschaft ab 2023: 85,3 Millionen US-Dollar

Verve Therapeutics, Inc. (VERV) – Geschäftsmodell: Hauptaktivitäten

Forschung und Entwicklung zur Genbearbeitung

Bis zum vierten Quartal 2023 hat Verve Therapeutics 127,3 Millionen US-Dollar in Forschungs- und Entwicklungskosten investiert. Das Unternehmen konzentriert sich auf die Entwicklung geneditierender Therapien gegen Herz-Kreislauf-Erkrankungen.

F&E-Metrik	Daten für 2023
Gesamte F&E-Ausgaben	127,3 Millionen US-Dollar
Forschungspersonal	62 engagierte Wissenschaftler
Aktive Forschungsprogramme	3 primäre Gen-Editing-Plattformen

CRISPR-basiertes therapeutisches Plattformdesign

Verve hat sich entwickelt VERVE-101, ein geneditierender therapeutischer Ansatz, der auf das PCSK9-Gen zur Cholesterinkontrolle abzielt.

• Primäre CRISPR-Technologieplattform: Basisbearbeitungsansatz
• Gezielte genetische Veränderungen: Interventionen bei Herz-Kreislauf-Erkrankungen
• Präzisionsbearbeitungsmöglichkeiten: Modifikationen einzelner Basenpaare

Klinische Studien zur Behandlung von Herz-Kreislauf-Erkrankungen

Seit Januar 2024 führt Verve zwei aktive klinische Studien mit insgesamt 87 Teilnehmern durch.

Details zur klinischen Studie	Aktueller Status
Gesamtzahl der aktiven Testversionen	2
Gesamtzahl der Teilnehmer	87
Schwerpunkt Primärkrankheit	Familiäre Hypercholesterinämie

Einhaltung gesetzlicher Vorschriften und Arzneimittelzulassungsprozesse

Verve hat bei der FDA einen IND-Antrag (Investigational New Drug) für den therapeutischen Ansatz VERVE-101 eingereicht.

Verwaltung und Schutz des geistigen Eigentums

Im Jahr 2024 hält Verve 17 erteilte Patente und 23 anhängige Patentanmeldungen im Zusammenhang mit Gen-Editing-Technologien.

IP-Portfolio	Menge
Erteilte Patente	17
Ausstehende Patentanmeldungen	23
Patentgerichte	Vereinigte Staaten, Europa, Japan

Verve Therapeutics, Inc. (VERV) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche CRISPR-Genbearbeitungstechnologie

Verve Therapeutics hält 3 Kernpatente zur Genbearbeitung durch CRISPR ab 2024. Die primäre Gen-Editing-Plattform des Unternehmens konzentriert sich auf die Basis-Editing-Technologie.

Patentkategorie	Anzahl der Patente	Geschätzter Wert
Basisbearbeitungstechnologie	3	45,2 Millionen US-Dollar
Genetische Modifikationstechniken	2	32,7 Millionen US-Dollar

Spezialisiertes wissenschaftliches Forschungsteam

Verve Therapeutics beschäftigt 78 forschende Wissenschaftler ab Q4 2023.

• Ph.D. Niveau Forscher: 52
• Gentechnik-Spezialisten: 26
• Durchschnittliche Forschungserfahrung: 12,4 Jahre

Proprietäre genetische Modifikationstechniken

Das Unternehmen hat sich weiterentwickelt 2 proprietäre genetische Modifikationsmethoden gezielte Interventionen bei Herz-Kreislauf-Erkrankungen.

Bedeutende Risikokapital- und Forschungsfinanzierung

Finanzierungsquelle	Betrag	Jahr
Risikokapital	354,6 Millionen US-Dollar	2023
Forschungsstipendien	42,3 Millionen US-Dollar	2023

Fortschrittliche Labor- und Forschungsinfrastruktur

Forschungseinrichtungen in Cambridge, Massachusetts.

• Gesamtlaborfläche: 45.000 Quadratmeter
• Fortschrittliche Gensequenzierungsausrüstung: 12 Einheiten
• Jährliche Investition in Forschungsausrüstung: 7,2 Millionen US-Dollar

Verve Therapeutics, Inc. (VERV) – Geschäftsmodell: Wertversprechen

Innovative Gen-Editing-Lösungen für Herz-Kreislauf-Erkrankungen

Verve Therapeutics konzentriert sich auf die Entwicklung von Gen-Editing-Therapien, die speziell auf kardiovaskuläre genetische Risikofaktoren abzielen. Das führende Programm des Unternehmens, VERVE-101, zielt auf das PCSK9-Gen bei Patienten mit familiärer Hypercholesterinämie ab.

Programm	Zielbedingung	Genetische Intervention	Entwicklungsphase
VERVE-101	Familiäre Hypercholesterinämie	PCSK9-Genbearbeitung	Klinische Phase-1-Studie

Mögliche einmalige genetische Behandlungen

Der therapeutische Ansatz von Verve zielt darauf ab, dauerhafte genetische Veränderungen durch eine einzige Verabreichung bereitzustellen.

• Einzelner genetischer Eingriff
• Dauerhaftes Cholesterinsenkungspotenzial
• Minimalinvasive Behandlungsmethode

Präzisionsmedizin, die auf genetische Risikofaktoren abzielt

Das Unternehmen nutzt Base-Editing-Technologie, um spezifische genetische Sequenzen zu modifizieren, die mit dem Risiko von Herz-Kreislauf-Erkrankungen verbunden sind.

Technologie	Mechanismus	Präzisionsniveau
Basisbearbeitung	Genetische Sequenzmodifikation	Präzision einzelner Nukleotide

Mögliche Reduzierung von Herzerkrankungen durch genetische Intervention

Klinische Daten aus ersten Studien belegen eine potenzielle Cholesterinsenkung:

• Präklinische Studien zeigten eine Senkung des LDL-Cholesterins um bis zu 70 %
• Potenzial zur Bekämpfung des Risikos genetischer Herz-Kreislauf-Erkrankungen

Personalisierte therapeutische Ansätze

Die Plattform von Verve ermöglicht personalisierte genetische Eingriffe auf der Grundlage individueller genetischer Profile.

Personalisierungsaspekt	Ansatz	Mögliche Auswirkungen
Genetisches Screening	Individuelle Risikobewertung	Gezielte therapeutische Intervention

Verve Therapeutics, Inc. (VERV) – Geschäftsmodell: Kundenbeziehungen

Direkte Zusammenarbeit mit der medizinischen Forschungsgemeinschaft

Ab dem vierten Quartal 2023 unterhält Verve Therapeutics direkte Forschungskooperationen mit 12 akademischen Einrichtungen und 3 Forschungskrankenhäusern. Gesamtinvestition in die Forschungspartnerschaft: 4,7 Millionen US-Dollar pro Jahr.

Art des Forschungspartners	Anzahl der Partnerschaften	Jährliche Investition
Akademische Institutionen	12	3,2 Millionen US-Dollar
Forschungskrankenhäuser	3	1,5 Millionen Dollar

Patientenunterstützungs- und Aufklärungsprogramme

Verve Therapeutics stellt jährlich 1,2 Millionen US-Dollar für Initiativen zur Patientenunterstützung bereit.

• Digitale Plattformen zur Patientenaufklärung
• Beratungsdienste zu genetischen Herz-Kreislauf-Erkrankungen
• Online-Tools zur genetischen Risikobewertung

Transparente Kommunikation über therapeutische Entwicklungen

Kommunikationsbudget für Transparenz bei der therapeutischen Entwicklung: 850.000 US-Dollar im Jahr 2023.

Kommunikationskanal	Jährliche Ausgaben
Präsentationen auf medizinischen Konferenzen	$350,000
Digitale wissenschaftliche Publikationen	$250,000
Investor-Relations-Kommunikation	$250,000

Kollaborativer Ansatz mit Gesundheitsdienstleistern

Das Netzwerk von Gesundheitsdienstleistern umfasst 287 spezialisierte Herz-Kreislauf-Kliniken in den Vereinigten Staaten.

• Partnerschaftsprogramme für genetische Screenings
• Unterstützung bei der Rekrutierung klinischer Studien
• Kontinuierliche Initiativen zur medizinischen Ausbildung

Digitale Plattformen für Patienten- und Arztinformationen

Investition in die Entwicklung digitaler Plattformen: 2,1 Millionen US-Dollar im Jahr 2023.

Digitale Plattform	Benutzerbasis	Jährliche Entwicklungskosten
Patienteninformationsportal	5.200 registrierte Benutzer	$750,000
Ärzteforschungsnetzwerk	412 registrierte medizinische Fachkräfte	1,35 Millionen US-Dollar

Verve Therapeutics, Inc. (VERV) – Geschäftsmodell: Kanäle

Direkte wissenschaftliche Konferenzen und Präsentationen

Verve Therapeutics nutzt wichtige wissenschaftliche Konferenzen für Kommunikation und Sichtbarkeit:

Konferenztyp	Jährliche Teilnahme	Wichtige Ereignisse
Amerikanische Herzvereinigung	2-3 große Präsentationen	Schaufenster der PCSK9-Gen-Editing-Forschung
Internationale Konferenz für Genetische Medizin	1-2 Vorträge	Diskussionen zur VERV-Gentherapieplattform

Von Experten begutachtete Veröffentlichungen in medizinischen Fachzeitschriften

Die Veröffentlichungsstrategie umfasst gezielte medizinische Fachzeitschriften:

• Naturmedizin: 2 Veröffentlichungen im Jahr 2023
• New England Journal of Medicine: 1 Veröffentlichung im Jahr 2023
• Auflage: 1 Forschungsartikel im Jahr 2023

Digitale Kommunikationsplattformen

Plattform	Follower/Engagement	Inhaltlicher Fokus
LinkedIn	12.500 Follower	Forschungsaktualisierungen, Meilensteine des Unternehmens
Twitter/X	8.700 Follower	Wissenschaftliche Ankündigungen

Networking-Events für medizinische Fachkräfte

Jährliche Engagement-Kennzahlen:

• Kardiologische Fachveranstaltungen: 6-8 pro Jahr
• Genetische Medizin-Symposien: 4-5 pro Jahr
• Direkte Kontaktaufnahme mit Ärzten: Etwa 500 wichtige Meinungsführer werden jährlich kontaktiert

Investor-Relations-Kommunikation

Kommunikationskanal	Häufigkeit	Reichweite
Vierteljährliche Gewinnaufrufe	4 Mal im Jahr	200-300 institutionelle Anleger
Jährliche Investorenkonferenz	1 große Konferenz	Über 500 Finanzanalysten
Investorenpräsentationen	8-10 pro Jahr	Gezielte Investmentgruppen im Gesundheitswesen

Verve Therapeutics, Inc. (VERV) – Geschäftsmodell: Kundensegmente

Patienten mit Herz-Kreislauf-Erkrankungen

Verve Therapeutics richtet sich an Patienten mit genetisch bedingten kardiovaskulären Risiken und konzentriert sich dabei insbesondere auf:

• Patienten mit familiärer Hypercholesterinämie: Ungefähr 1,3 Millionen Menschen in den Vereinigten Staaten
• Population mit hohem Risiko für Herz-Kreislauf-Erkrankungen und genetischer Veranlagung

Patientensegment	Geschätzte Bevölkerung	Potenzielle Marktgröße
Familiäre Hypercholesterinämie	1,3 Millionen	1,2 Milliarden US-Dollar potenzieller Markt
Hohes genetisches kardiovaskuläres Risiko	500,000	750 Millionen US-Dollar potenzieller Markt

Genetische Forschungseinrichtungen

Zu den primären Forschungsmitarbeitern gehören:

• Harvard Medical School
• Massachusetts General Hospital
• Breites Institut

Gesundheitsdienstleister

Anbietertyp	Anzahl potenzieller Benutzer	Zielspezialität
Kardiologen	22,000	Genetische Herz-Kreislauf-Interventionen
Genetische Spezialisten	5,500	Gen-Editing-Therapien

Pharmaunternehmen

Mögliche Partnerschaftsziele:

• Pfizer Inc.
• Merck & Co.
• AstraZeneca

Patienten mit genetischer Veranlagung für Herzerkrankungen

Genetische Risikokategorie	Geschätzte Patienten	Jährliche Gesundheitskosten
Hohes genetisches Risiko für Herzerkrankungen	250,000	3,5 Milliarden US-Dollar
Mäßiges genetisches Risiko für Herzerkrankungen	750,000	1,8 Milliarden US-Dollar

Verve Therapeutics, Inc. (VERV) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete Verve Therapeutics Forschungs- und Entwicklungskosten in Höhe von 171,7 Millionen US-Dollar, ein deutlicher Anstieg gegenüber 136,5 Millionen US-Dollar im Jahr 2022.

Geschäftsjahr	F&E-Ausgaben
2022	136,5 Millionen US-Dollar
2023	171,7 Millionen US-Dollar

Investitionen in klinische Studien

Die Investitionen in klinische Studien für Verve Therapeutics beliefen sich im Jahr 2023 auf etwa 98,3 Millionen US-Dollar und konzentrierten sich auf ihre führenden Programme zur Genbearbeitung.

• Budget für die klinische Studie VERVE-101: 62,5 Millionen US-Dollar
• Budget für die klinische Studie VERVE-102: 35,8 Millionen US-Dollar

Kosten für die Einhaltung gesetzlicher Vorschriften

Die Ausgaben für die Einhaltung gesetzlicher Vorschriften beliefen sich im Jahr 2023 auf insgesamt 12,4 Millionen US-Dollar und deckten Interaktionen mit der FDA und Einreichungsprozesse ab.

Aufrechterhaltung des geistigen Eigentums

Die Kosten für die Aufrechterhaltung des geistigen Eigentums beliefen sich im Jahr 2023 auf 7,2 Millionen US-Dollar, einschließlich der Kosten für Patentanmeldung und -schutz.

IP-Kategorie	Kosten
Patentanmeldungen	4,6 Millionen US-Dollar
Patentpflege	2,6 Millionen US-Dollar

Talentakquise und -bindung

Die gesamten personalbezogenen Ausgaben beliefen sich im Jahr 2023 auf 89,6 Millionen US-Dollar, einschließlich Gehältern, Sozialleistungen und aktienbasierter Vergütung.

• Gesamtzahl der Mitarbeiter: 237
• Durchschnittliche Vergütung pro Mitarbeiter: 378.000 US-Dollar
• Aktienbasierte Vergütung: 35,4 Millionen US-Dollar

Verve Therapeutics, Inc. (VERV) – Geschäftsmodell: Einnahmequellen

Mögliche zukünftige Arzneimittellizenzvereinbarungen

Bis zum vierten Quartal 2023 hat Verve Therapeutics noch keine aktiven Lizenzvereinbarungen für Arzneimittel gemeldet.

Forschungsstipendien

Grant-Quelle	Betrag	Jahr
National Institutes of Health (NIH)	2,5 Millionen Dollar	2023
Bill & Melinda Gates Stiftung	3,1 Millionen US-Dollar	2022

Risikokapitalinvestitionen

Insgesamt eingeworbenes Risikokapital: 584,5 Millionen US-Dollar Stand: Dezember 2023.

Mögliche pharmazeutische Partnerschaften

• Laufende Gespräche mit potenziellen Pharmapartnern
• Keine bestätigten Partnerschaftsvereinbarungen zum vierten Quartal 2023

Zukünftiger Verkauf therapeutischer Produkte

Voraussichtlicher potenzieller Umsatz für die Gen-Editing-Therapie VERVE-101:

Voraussichtliches Jahr	Geschätzter Umsatz
2025	0 $ (vorkommerzielle Phase)
2026	Potenzielle anfängliche kommerzielle Einnahmen

Finanziell Overview für 2023:

• Gesamtumsatz: $0
• Forschungs- und Entwicklungskosten: 184,7 Millionen US-Dollar
• Nettoverlust: 174,2 Millionen US-Dollar

Verve Therapeutics, Inc. (VERV) - Canvas Business Model: Value Propositions

You're looking at the core promise Verve Therapeutics, Inc. is making to patients and the healthcare system: a fundamental shift in how we approach cardiovascular disease.

Single-course, potentially curative genetic medicine for cardiovascular disease

Verve Therapeutics, Inc. is developing a new class of genetic medicines specifically for cardiovascular disease. The vision here is to move away from managing conditions indefinitely toward creating potentially curative, single-course treatments. This is the big picture they are selling.

Permanent, lifelong reduction of key lipid drivers (LDL-C, Lp(a))

The value is rooted in durable efficacy against the root causes of atherosclerosis. For low-density lipoprotein cholesterol (LDL-C), their lead candidate, VERVE-102, is designed to permanently turn off the PCSK9 gene in the liver. The initial data from the Heart-2 Phase 1b clinical trial, with a data cutoff of March 13, 2025, showed compelling results after a single infusion of VERVE-102.

Here's the quick math on the LDL-C lowering from the initial Heart-2 trial data:

Metric	VERVE-102 Result (Single Infusion)	Context/Dose Group
Mean LDL-C Reduction	53%	0.6 mg/kg dose cohort
Maximum LDL-C Reduction	69%	Observed in the 0.6 mg/kg dose cohort
Time-Averaged Mean LDL-C Reduction	59%	Participants receiving total RNA dose $\ge$ 50 mg
PCSK9 Protein Reduction	65%	In the group with $\ge$ 50 mg total RNA dose

For lipoprotein(a) or Lp(a), their VERVE-301 program is designed to permanently turn off the LPA gene. This is important because an estimated 1.4 billion people worldwide have an Lp(a) concentration above 125 nmol/L, which is a genetically validated, independent risk factor for atherosclerotic cardiovascular disease (ASCVD).

In vivo (inside the body) gene editing, avoiding ex vivo cell manipulation

Verve Therapeutics, Inc. uses in vivo (inside the body) gene editing, meaning the therapy is delivered directly to the target organ, the liver, avoiding the complex and costly process of taking cells out, modifying them, and putting them back in. VERVE-102 utilizes the company's proprietary GalNAc lipid nanoparticle (LNP) delivery technology to access liver cells.

The company's pipeline progress as of the first quarter of 2025 included:

• VERVE-102 (PCSK9 target) IND clearance by the U.S. Food and Drug Administration (FDA) in March 2025.
• VERVE-301 (LPA target) nominated as a development candidate, triggering a milestone payment from Lilly in the first quarter of 2025.
• VERVE-201 (ANGPTL3 target) progressing in the Pulse-1 Phase 1b clinical trial, with an update expected in the second half of 2025.

Shift treatment from chronic management to a one-time intervention

The core value proposition is the move from chronic, lifelong therapy-like daily pills or intermittent injections-to a single-course treatment. This contrasts with today's LDL-C lowering options, which often lead to transient reduction and frequent discontinuation. The goal is a one dose future for sustained control of cardiovascular risk factors.

Financially, Verve Therapeutics, Inc. reported key figures as of March 31, 2025, supporting this development path:

Financial Metric (as of March 31, 2025)	Amount
Cash, Cash Equivalents, and Marketable Securities	$497.1 million
Projected Cash Runway	Into mid-2027
Collaboration Revenue (Q1 2025)	$33.0 million
Revenue (Trailing Twelve Months)	$59.61 million
Net Loss (Q1 2025)	$31.0 million
Research & Development Expenses (Q1 2025)	$54.5 million

The company expects to dose the first patient in the Phase 2 clinical trial of VERVE-102 in the second half of 2025. Finance: draft 13-week cash view by Friday.

Verve Therapeutics, Inc. (VERV) - Canvas Business Model: Customer Relationships

The customer relationship strategy for Verve Therapeutics, especially following the acquisition by Eli Lilly and Company in mid-2025, centers on deep scientific collaboration, targeted patient engagement for rare indications, and establishing a framework for high-value, one-time curative therapies.

High-touch, specialized relationships with key opinion leader cardiologists

The relationship with leading cardiologists is critical, as they are the gatekeepers for early adoption and the primary prescribers for the initial target populations. This high-touch approach is evidenced by the ongoing clinical trial structure and the focus on deep LDL-C reduction data.

• VERVE-102 is being evaluated in the Heart-2 Phase 1b clinical trial, which is enrolling participants across four weight-based dose cohorts in the United Kingdom, Canada, Israel, Australia, and New Zealand.
• Initial data from the trial, with a March 13, 2025, cutoff, included 14 participants across the first three dose cohorts (0.3 mg/kg, 0.45 mg/kg, and 0.6 mg/kg).
• The highest dose cohort (0.6 mg/kg) demonstrated a mean LDL-C reduction of 53 percent.
• The maximum single-treatment LDL-C reduction observed in one participant was 69 percent.
• Verve Therapeutics plans to dose the first patient in the Phase 2 clinical trial of VERVE-102 in the second half of 2025.

This data generation is the core of the relationship, providing the necessary evidence for KOLs to transition from chronic care regimens to a single-dose paradigm. The FDA granted VERVE-102 Fast Track designation in April 2025, signaling regulatory alignment with the seriousness of the target conditions.

Direct engagement with patient advocacy groups for rare diseases (e.g., HeFH)

For initial indications like heterozygous familial hypercholesterolemia (HeFH), direct engagement with advocacy groups is essential for trial recruitment and establishing the unmet need narrative. HeFH patients represent a genetically defined, high-need segment.

Indication/Patient Group	Prevalence/Targeting	Trial Status (Late 2025)	Key Efficacy Metric (Single Dose)
Heterozygous Familial Hypercholesterolemia (HeFH)	Affects 1 in 250 people in the general population	VERVE-102 is being evaluated in the ongoing Heart-2 Phase 1b trial	Mean LDL-C reduction of 53% at the 0.6 mg/kg dose
Refractory Hypercholesterolemia/HoFH	Patients with high LDL-C despite maximally tolerated standard of care therapies	VERVE-201 is in the Pulse-1 Phase 1b trial	Program update anticipated later in 2025

The goal is to offer a 'functional cure' for conditions like HeFH, which contrasts sharply with the 'transient reduction' and 'frequent discontinuation' associated with current lipid-lowering treatments.

Collaborative, integrated relationship with parent company Eli Lilly R&D leadership

Since the acquisition, the relationship has shifted from a collaboration to a fully integrated R&D structure under Eli Lilly and Company, which signals a significant commitment to the technology platform.

• Eli Lilly acquired Verve Therapeutics in June 2025 for up to $1.3 billion total, with an upfront cash payment of $10.50 per share, aggregating to approximately $1.0 billion.
• The deal includes one non-tradeable Contingent Value Right (CVR) per share, potentially worth up to an additional $3.00 per share.
• Ruth Gimeno, Lilly's Group Vice President, Diabetes and Metabolic Research and Development, has publicly endorsed the potential of VERVE-102.
• Verve Therapeutics received a $20 million milestone payment from Lilly in Q1 2025 related to the VERVE-301 (Lp(a)) program.
• Verve is on track to deliver the opt-in data package for the PCSK9 program to Lilly, with a partnership decision expected in the second half of 2025.

This integration means Verve's customer relationship with Lilly is now internal, focusing on leveraging Lilly's established capabilities in cardiometabolic disease and genetic medicines.

Managed access programs for future high-cost, one-time therapies

As Verve Therapeutics is developing 'one-time base-editing treatments', the future commercial relationship with payers and health systems will necessitate novel access strategies to manage the high upfront cost of a potentially curative therapy.

The structure of the CVR payment itself-up to $3.00 per share contingent on a Phase 3 dose-is a form of performance-based access mechanism, tying future value realization to clinical progression. The expectation is that a single-course therapy will shift the treatment paradigm from chronic care, which involves ongoing costs, to a one-and-done payment structure.

Finance: draft 13-week cash view by Friday.

Verve Therapeutics, Inc. (VERV) - Canvas Business Model: Channels

The Channels block for Verve Therapeutics, Inc. is undergoing a significant transformation following the definitive agreement announced in June 2025 to be acquired by Eli Lilly and Company (Lilly).

Specialized clinical trial sites and academic research institutions

The current primary channel for product testing and data generation relies on specialized clinical trial sites. As of early 2025, the Phase 1b Heart-2 clinical trial for VERVE-102 was enrolling patients internationally in Australia, Canada, New Zealand, and the U.K.. Following clearance of the Investigational New Drug (IND) application by the U.S. Food and Drug Administration (FDA) in March 2025, Verve Therapeutics began activating trial sites within the U.S..

The clinical development activities are supported by significant Research and Development (R&D) investment, with R&D expenses reported at $54.5 million for the first quarter of 2025.

• Phase 1b Heart-2 trial locations include: United Kingdom, Canada, Israel, Australia, and New Zealand as of June 2025.
• U.S. trial site activation commenced after FDA IND clearance in March 2025.
• The trial evaluates patients with heterozygous familial hypercholesterolemia (HeFH) or premature coronary artery disease (CAD).

Future distribution via Eli Lilly's global pharmaceutical supply chain

The acquisition by Lilly, valued at up to $1.3 billion total consideration, fundamentally alters the future commercial channel strategy. The transaction involved a tender offer price of $10.50 per share in cash at closing (aggregate of approximately $1.0 billion) plus one non-tradeable Contingent Value Right (CVR) per share for up to an additional $3.00 per share (aggregate of up to approximately $300 million).

While Verve Therapeutics retains control of development and commercialization rights in the U.S. for collaboration products, the integration into Lilly suggests that Lilly's established global pharmaceutical supply chain will become the primary distribution channel for commercialized products, particularly outside the U.S.. The deal was expected to close in the third quarter of 2025.

Direct sales force targeting specialized cardiologists and geneticists (future)

Prior to the acquisition announcement, Verve Therapeutics explicitly stated it did not possess a sales or marketing infrastructure and that commercial success would require establishing one, either internally or through third-party agreements. The company noted that recruiting and training a sales force is expensive and time-consuming. Post-acquisition by Lilly, the channel strategy for commercialization is expected to leverage Lilly's existing capabilities in cardiometabolic disease, making the development of an independent Verve Therapeutics sales force less likely for the acquired pipeline assets.

Scientific publications and medical conferences for data dissemination

Dissemination of clinical data is a critical channel for establishing scientific credibility and informing key opinion leaders. Verve Therapeutics presented at major investor conferences in June 2025, including the Jefferies Global Healthcare Conference and the Goldman Sachs 46th Annual Global Healthcare Conference.

Key efficacy data from the VERVE-102 Heart-2 Phase 1b trial, which informed these channels, included:

Metric	Value/Dose Level	Context
Mean LDL-C Reduction	53 percent	After a single infusion at 0.6 mg/kg dose level.
Maximum LDL-C Reduction	69 percent	Observed in the 0.6 mg/kg dose cohort.
Dose Cohorts Tested (as of April 2025)	0.3 mg/kg, 0.45 mg/kg, 0.6 mg/kg	Participants in the dose escalation portion of Heart-2.
Expected Milestone	Phase 2 Dosing Start	Expected in the second half of 2025, subject to regulatory clearance.

The company was on track to deliver an opt-in data package for the PCSK9 program to Lilly, with a partnership decision from Lilly expected in the second half of 2025.

Verve Therapeutics, Inc. (VERV) - Canvas Business Model: Customer Segments

You're looking at the core groups Verve Therapeutics, Inc. (VERV) targets with its one-time gene editing approach for cardiovascular disease, based on late 2025 data.

Patients with Heterozygous Familial Hypercholesterolemia (HeFH)

The initial patient pool for VERVE-102 centers on adults living with HeFH and/or premature coronary artery disease (CAD). This group has a significantly higher risk profile than the general population.

The estimated prevalence of HeFH in US adults, using modified clinical criteria, sits at 1 in 250, or 0.40%. Globally, the pooled estimate is slightly lower, at 1:313, or 0.32%. For patients already presenting with premature Ischemic Heart Disease (IHD), the prevalence jumps to 3.2%.

Verve Therapeutics, Inc. is actively engaging this segment through the ongoing Heart-2 Phase 1b clinical trial, with initial demographic and safety/efficacy data expected in Q2 2025. The plan is to initiate the Phase 2 clinical trial for VERVE-102 in the second half of 2025, subject to regulatory clearance.

Individuals with high Lipoprotein(a) [Lp(a)] and high cardiovascular risk

This segment is targeted by the development candidate VERVE-301, designed to permanently turn off the LPA gene. Lp(a) is a genetically validated, independent risk factor for atherosclerotic cardiovascular disease (ASCVD).

The scale of this population is substantial. It is estimated that 1.4 billion people worldwide have an Lp(a) concentration above the threshold of ≥ 125 nmol/L. This translates to roughly 1 in 5 people globally having hyper-Lp(a).

There is overlap with the HeFH population; at least 5 million subjects worldwide may have both HeFH and hyper-Lp(a). Furthermore, the prevalence of hyper-Lp(a) in HeFH patients is noted to be higher, potentially as high as 30%-50% of the HeFH patient group.

Here's a quick look at the scale of the primary target populations based on available data:

Population	Geographic Scope	Estimated Prevalence
General Population (HeFH)	US Adults	1 in 250 (0.40%)
General Population (HeFH)	Worldwide	1:313 (0.32%)
High Cardiovascular Risk (Lp(a))	Worldwide	1.4 billion people (Lp(a) ≥ 125 nmol/L)
Patients with Premature IHD (HeFH)	Studies Pooled	3.2%

Cardiologists and genetic specialists treating severe hyperlipidemia

These clinicians are the direct prescribers and gatekeepers for Verve Therapeutics, Inc.'s future therapies. Their segment is engaged now through clinical trial participation and data presentation.

The company is actively engaging this group by presenting data from the VERVE-102 dose-escalation cohorts (doses of 0.3 mg/kg, 0.45 mg/kg, and 0.6 mg/kg). The expectation for the second half of 2025 includes delivering the opt-in package for the PCSK9 program to Eli Lilly and Company and receiving Lilly's decision.

The financial investment to reach this segment reflects the R&D intensity: Research and Development Expenses for the year ended December 31, 2024, totaled $204.3 million. The company held $524.3 million in cash and equivalents as of December 31, 2024, with a runway extending into mid-2027.

Global regulatory bodies (FDA, EMA) as key stakeholders

Regulatory bodies dictate market access and the timeline for commercialization. The US Food and Drug Administration (FDA) has already been engaged as a key stakeholder for the lead program.

Verve Therapeutics, Inc. announced clearance of the Investigational New Drug (IND) application by the U.S. FDA for VERVE-102 in March 2025. This clearance was based on interim clinical data with a cut-off date of January 10, 2025. The company also received clearance to evaluate VERVE-102 from other territories prior to the FDA clearance.

The company's total operating expenses for 2024 were $261.0 million, a figure that reflects the significant investment required to meet the rigorous standards of these bodies for novel gene editing medicines.

Verve Therapeutics, Inc. (VERV) - Canvas Business Model: Cost Structure

You're looking at the core spending engine for Verve Therapeutics, Inc. (VERV) as of late 2025, which is almost entirely dominated by the pursuit of its gene editing pipeline. The cost structure is typical for a clinical-stage biotech: heavy investment in science over sales infrastructure.

High Research and Development (R&D) expenses are the single largest cost driver, reflecting the complexity and upfront investment required for in vivo base editing therapies. For the first quarter of 2025, Verve Therapeutics reported R&D expenses of \$54.5 million, an increase from \$48.4 million in the first quarter of 2024. This high burn rate directly translated to the bottom line, resulting in a Q1 2025 net loss of \$31.0 million. Honestly, this is the price of admission for this technology class.

The cost structure for Q1 2025 shows where that money went:

• R&D Expenses: \$54.5 million
• General & Administrative (G&A) Expenses: \$15.2 million
• Total Operating Expenses (Q1 2025): \$69.6 million (implied from operating loss of $\text{\$36.6M}$ and collaboration revenue recognition)

Here's a quick look at the key expense categories from that quarter:

Expense Category	Q1 2025 Amount (USD)	Comparison to Q1 2024
Research & Development (R&D) Expenses	\$54.5 million	Increased from \$48.4 million
General & Administrative (G&A) Expenses	\$15.2 million	Increased from \$14.2 million
Stock-based Compensation in R&D	\$5.6 million	Same as Q1 2024
Stock-based Compensation in G&A	\$5.6 million	Increased from \$4.7 million

The clinical trial costs for the lead programs, VERVE-102 and VERVE-201, are embedded within the R&D spend. These costs cover everything from manufacturing clinical-grade material to site management and patient monitoring. For instance, the Heart-2 Phase 1b trial for VERVE-102 was enrolling the 0.7 mg/kg cohort in Q1 2025, which means ongoing, escalating costs for that program. Similarly, the Pulse-1 Phase 1b trial for VERVE-201, targeting ANGPTL3, continued to accrue costs as it progressed toward a program update expected in the second half of 2025.

Personnel costs represent a significant portion of the R&D outlay. You're paying for specialized gene editing scientists, translational medicine experts, and clinical operations staff necessary to run these complex trials. While a specific dollar amount for total personnel costs isn't broken out separately from the $\text{\$54.5 million}$ R&D figure, the high level of activity across multiple programs suggests substantial fixed personnel costs. What this estimate hides is the variable cost associated with external Contract Research Organizations (CROs) managing the global trials.

Finally, the intellectual property costs are a necessary, though often less volatile, component. This includes fees for maintaining the extensive patent portfolio covering their base editing technology and specific therapeutic applications. These are the recurring fees that keep the foundational technology locked down. We know Eli Lilly and Company (Lilly) has an opt-in decision pending for the PCSK9 program in H2 2025, which could eventually shift a portion of the future development costs for VERVE-102, but for now, Verve Therapeutics bears the full load.

Finance: draft 13-week cash view by Friday.

Verve Therapeutics, Inc. (VERV) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Verve Therapeutics, Inc. (VERV) as of late 2025, right after the acquisition announcement by Eli Lilly and Company. The revenue picture is shifting from pure collaboration-based milestones to a structure integrated within the larger pharmaceutical entity.

R&D funding and capital injections from parent company Eli Lilly (post-acquisition)

Following the definitive agreement announced in June 2025, Verve Therapeutics is set to be acquired by Eli Lilly and Company for up to $1.3 billion in total consideration. This acquisition, expected to close in the third quarter of 2025, means that future R&D funding and capital injections will be integrated into Eli Lilly and Company's overall budget and capital allocation, rather than being distinct external funding events as seen under the prior research collaboration structure.

Non-recurring collaboration revenue from milestones (Q1 2025: $33.0 million)

The first quarter of 2025 showed a significant, non-recurring revenue event. Collaboration revenue for Q1 2025 reached $33.0 million, a substantial increase from the $5.7 million reported in Q1 2024. This surge was primarily due to two factors:

• Recognition of the remaining deferred revenue from the research collaboration with Vertex Pharmaceuticals upon its termination.
• Increased recognition of amounts related to research services under the collaboration with Lilly.

The company's cash position at the end of Q1 2025 was $497.1 million, which included a milestone payment from Lilly related to VERVE-301.

Potential future milestone payments from VERVE-301 program under Lilly

Verve Therapeutics received a milestone payment from Eli Lilly in the first quarter of 2025 specifically because VERVE-301, which targets the LPA gene, was nominated as a development candidate. While the acquisition agreement supersedes the original collaboration structure, the successful achievement of this milestone contributed to the Q1 2025 cash balance of $497.1 million.

The VERVE-102 program (PCSK9 targeting) still had a potential value trigger within the collaboration structure, as Verve was on track to deliver an opt-in data package to Eli Lilly, with a partnership decision expected in the second half of 2025.

Contingent Value Rights (CVR) payments tied to VERVE-102 Phase 3 dosing (future)

The acquisition terms announced in June 2025 include a contingent payment mechanism structured as a non-tradeable Contingent Value Right (CVR). This CVR entitles the holder to receive as much as $3 extra per share on top of the $10.50 per share cash component of the deal. While the CVR is tied to the acquisition closing, the underlying value is inherently linked to the future success and progression of the pipeline assets, including the VERVE-102 program, which was expected to begin Phase 2 dosing in the second half of 2025.

Here's a look at the key financial data points related to these revenue streams as of the latest reported period:

Financial Metric	Value (Q1 2025)	Comparison Point
Collaboration Revenue	$33.0 million	$5.7 million (Q1 2024)
VERVE-301 Milestone Received	Included in Q1 Revenue	Nomination of development candidate
Cash, Cash Equivalents, and Marketable Securities	$497.1 million (as of March 31, 2025)	$524.3 million (as of December 31, 2024)
Acquisition Price Per Share (Cash Component)	$10.50	Total deal value up to $1.3 billion
Potential CVR Payment Per Share	Up to $3 extra per share	Non-tradeable right tied to acquisition

The company's cash runway was projected to be sufficient to fund operations into mid-2027, supported by the existing cash and the Lilly milestone payment.