CRISPR Therapeutics Shares Up After Amending Vertex Collaboration Deal
By Michael Dabaie
CRISPR Therapeutics Inc. shares were up 6% to $122.02 in
afternoon trading Tuesday after the company amended a collaboration
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 will receive a $900 million upfront payment, with
potential for a $200 million payment upon the first regulatory
approval of CTX001.
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, a 10%
increase in program economics compared with a previous
CRISPR will be responsible for 40% of costs and will receive 40%
Vertex shares were up 1% to $221.29.
Write to Michael Dabaie at firstname.lastname@example.org
(END) Dow Jones Newswires
April 20, 2021 13:34 ET (17:34 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.