Press release
Vertex and Verve Therapeutics Establish Collaboration to Discover and Develop an In Vivo Gene Editing Program for Liver Disease
Verve to Receive $25 Million Upfront Payment and $35 Million Equity Investment, as Well as Potential Milestones and Royalties BOSTON and CAMBRIDGE, Mass.,
About this update from Vertex Pharmaceuticals Incorporated
[{"type":"text","content":"Verve to Receive $25 Million Upfront Payment and $35 Million Equity Investment, as Well as Potential Milestones and Royalties\nBOSTON and CAMBRIDGE, Mass., July 20, 2022 (GLOBE NEWSWIRE) -- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) and Verve Therapeutics, Inc. (Nasdaq: VERV) today announced an exclusive, four-year global research collaboration focused on discovering and developing an in vivo gene editing program for a single undisclosed liver disease. Under the terms of the collaboration, Verve will advance the discovery, research and certain preclinical development of a novel in vivo gene editing program for the target of interest, with all program costs funded by Vertex. Vertex will be responsible for subsequent development, manufacturing and commercialization of any program stemming from Verve’s research efforts. “This partnership with Vertex enables an important step forward for Verve as we build out our leading gene editing capabilities and pipeline of in vivo gene editing medicines to address serious diseases,” said Sekar Kathiresan, M.D., Co-Founder and Chief Executive Officer of Verve. “This agreement validates the pioneering work at Verve to develop liver-directed gene editing medicines and expands the reach of our capabilities and breadth of our pipeline. We are thrilled to partner with Vertex to advance this important research and development program.” “Vertex is committed to discovering and developing transformative medicines for people with serious diseases,” said David Altshuler, M.D., Ph.D., Executive Vice President, Global Research and Chief Scientific Officer of Vertex. “We are impressed by the progress Verve has made and look forward to combining the expertise in gene editing and drug development of our two companies to serve more patients in need.” Transaction TermsUnder the terms of the agreement, Verve will receive an upfront payment of $60 million, including a $35 million equity investment in Verve. Verve is also eligible to receive up to $66 million in success payments, up to $340 million in development and commercial milestones, and tiered royalties on future net sales for any products that may result from this collaboration agreement. About VertexVertex is a global biotechnology company that invests in scientific innovation to create transformative medicines for people with serious diseases. The...