Molecular Templates: Vertex Terminates Collaboration
October 18 2021 - 10:42AM
Dow Jones News
By Colin Kellaher
Molecular Templates Inc. on Monday said Vertex Pharmaceuticals
Inc. is terminating a 2019 collaboration aimed at developing
conditioning agents for applications aimed at enhancing the
hematopoietic stem cell transplant process.
Molecular, an Austin, Texas, clinical-stage biopharmaceutical
company, said the termination is effective Oct. 29.
Under the 2019 agreement, Boston drug maker Vertex made a $38
million upfront payment to Molecular, which was also eligible for
future milestone and option payments of up to $522 million.
As part of the collaboration, Molecular was developing
engineered toxin bodies for myeloablation, an indication separate
from its core focus on cancer therapeutics.
Shares of Molecular Templates fell 2.8%, to $6.16, in early
trading Monday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 18, 2021 10:27 ET (14:27 GMT)
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