Intellia Therapeutics Shares Up 15% After Regeneron Expands Collaboration
June 01 2020 - 10:55AM
Dow Jones News
By Chris Wack
Intellia Therapeutics Inc. shares were up 15% to $20.14 after
Regeneron Pharmaceuticals Inc. expanded their collaboration to
provide Regeneron with rights to develop products for additional in
vivo CRISPR/Cas9-based therapeutic targets and for the companies to
jointly develop potential products for the treatment of hemophilia
A and B.
The companies said Regeneron will receive non-exclusive rights
to independently develop and commercialize ex vivo gene-edited
products.
Intellia will receive an upfront payment of $70 million, and
Regeneron will make an additional equity investment in Intellia of
$30 million at $32.42 a share.
Under the amended agreement, the companies will extend their
collaboration until April 2024, with Regeneron having an option to
renew for an additional two years. Regeneron will have rights to
discover and develop CRISPR/Cas9-based therapeutic products for an
additional five in vivo liver targets, for a total of up to 15
targets.
Regeneron will pay potential royalties and milestone payments
for the in vivo products it independently develops. Regeneron will
also receive a royalty-bearing, non-exclusive license to certain
Intellia intellectual property to develop and commercialize up to
10 ex vivo CRISPR/Cas9 products in defined cell types.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
June 01, 2020 10:40 ET (14:40 GMT)
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