Eli Lilly (LLY.N) is in advanced talks to acquire gene editing startup Verve Therapeutics (VERV.O) for up to $1.3 billion, aiming to strengthen its pipeline of experimental medicines, the Financial Times reported on Monday.

The drug maker's acquisition bid includes a payment of almost $1 billion upfront for Verve, and a further $300 million based on the genetic medicines company achieving certain clinical milestones, the report said, citing people familiar with the matter.