By Colin Kellaher

 

Vertex Pharmaceuticals Inc. on Thursday said it entered a research collaboration and licensing agreement with privately held Obsidian Therapeutics aimed at finding new therapies that regulate gene editing for the treatment of serious diseases.

Boston drug maker Vertex said Obsidian will use its cytoDRiVE technology to develop therapy candidates, while Vertex will have the exclusive option to license worldwide rights to the candidates, with responsibility for further development and commercialization.

Vertex said it will pay Obsidian up to $75 million in upfront payments and research milestones during the research term, including an equity investment in Obsidian.

The company said Obsidian is eligible to receive up to $1.3 billion in potential research, development, regulatory, and commercial milestone payments across up to five potential programs, along with royalties on sales of any products resulting from the collaboration.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

April 22, 2021 08:38 ET (12:38 GMT)

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