By Michael Dabaie

 

CRISPR Therapeutics Inc. shares were up 6% to $122.02 in afternoon trading Tuesday after the company amended a collaboration deal.

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 agreement.

CRISPR will be responsible for 40% of costs and will receive 40% of profits.

Vertex shares were up 1% to $221.29.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

April 20, 2021 13:34 ET (17:34 GMT)

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