Dow Jones Stock Market Today – Vertex, CRISPR Therapeutics Amend Collaboration Agreement
By Michael Dabaie
Vertex Pharmaceuticals Inc. and CRISPR Therapeutics amended their collaboration agreement for CTX001 in sickle cell disease and beta thalassemia.
CTX001 is an investigational gene editing therapy being developed as a potentially curative therapy for sickle cell disease and transfusion-dependent beta-thalassemia.
CRISPR Therapeutics shares were up 7% to $123.05 premarket.
Under the terms of the amended agreement, Vertex will lead global development, manufacturing and commercialization of CTX001 with support from CRISPR Therapeutics. Vertex will be responsible for 60% of program costs and will receive 60% of profits from future sales of CTX001 worldwide, representing a 10% increase in program economics compared to the previous agreement.
CRISPR will be responsible for 40% of costs and will receive 40% of profits. Additionally, CRISPR will receive a $900 million upfront payment, with potential for a $200 million payment upon the first regulatory approval of CTX001.
Write to Michael Dabaie at [email protected] Zoom.com
(END) Dow Jones Newswires
April 20, 2021 08:25 ET (12:25 GMT)
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