1. Eli Lilly acquired Adverum Biotechnologies to obtain Ixo-vec, a gene therapy targeting wet age-related macular degeneration (wAMD); 2. The low-risk deal, valued between $74.8M and $262M, offers significant growth potential if Ixo-vec succeeds as a single-injection treatment in the $9B global wAMD market; 3. Despite the strategic move, the author maintains a 'hold' rating on Eli Lilly due to valuation concerns and awaits further pipeline developments.