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)

Copyright (c) 2021 Dow Jones & Company, Inc.
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