Eli Lilly agreed to acquire Adverum Biotechnologies to secure ixoberogene soroparvovec (ixo‑vec), a one‑time AAV2 gene therapy in Phase III for wet age‑related macular degeneration (wAMD). Lilly said the deal advances its sensory therapeutics strategy and aims to deliver durable intraocular aflibercept levels from a single intravitreal dose, potentially replacing chronic anti‑VEGF injections. Adverum faced cash constraints, with limited runway and prior net losses, and Lilly moved via a company acquisition that includes bridge financing elements to continue the ongoing trial. Lilly emphasized retaining the Adverum team and advancing the Phase III program toward potential approval. The purchase extends Lilly’s footprint into ophthalmology and gene therapy, reflecting pharma’s growing appetite for platform plays that pair vector expertise with established franchise needs in chronic ocular disease.