Lilly and Adverum announce expiration and completion of Adverum tender offer and acquisition

Core Viewpoint - Eli Lilly and Company has successfully completed a tender offer to acquire Adverum Biotechnologies, with a cash payment of $3.56 per share and potential additional payments through contingent value rights [1][2][3] Group 1: Acquisition Details - The tender offer for Adverum's shares expired on December 8, 2025, with 16,493,335 shares tendered, representing approximately 64% of the outstanding shares [2] - The acquisition is expected to be finalized on December 9, 2025, in accordance with the Agreement and Plan of Merger dated October 24, 2025 [3] Group 2: Strategic Implications - The acquisition aims to enhance gene therapy capabilities, particularly for age-related conditions such as vision loss, as stated by Andrew Adams, Lilly's group vice president [4] - Adverum is focused on developing gene therapies for ocular diseases, with a proprietary platform designed to provide durable treatments through single-administration therapies [6]