Eli Lilly agreed to acquire Adverum in a deal focused on ixoberogene soroparvovec (ixo‑vec), a Phase 3 gene therapy candidate for wet age‑related macular degeneration designed as a one‑time intravitreal dose to deliver sustained anti‑VEGF activity. Lilly said the acquisition supports its sensory therapeutics strategy and accelerates clinical development of a potential single‑dose alternative to chronic anti‑VEGF injections. Adverum had been financially constrained and required capital to continue late‑stage development; Lilly’s purchase provides funding and continuity for the pivotal program. The deal reflects large pharma’s interest in durable ocular gene therapies to displace frequent intravitreal regimens and reduce patient burden. For retinal biotech and investors: expect increased M&A interest in ophthalmology gene therapies and renewed scrutiny on regulatory pathways, intravitreal vector durability, and manufacturing scale for AAV‑based products. Clinical note: pivotal timelines, safety monitoring plans, and head‑to‑head endpoints versus standard anti‑VEGF regimens will determine the asset’s commercial trajectory.