Vertex Expands Collaboration with CRISPR Therapeutics, Acquires Exonics

-Provides Vertex with leading gene editing capabilities to develop novel therapies for Duchenne Muscular Dystrophy and Myotonic Dystrophy Type 1-

-CRISPR to receive an upfront payment of $175 million, with potential for additional milestone and royalty payments-

-Exonics to be acquired for an upfront payment of $245 million, with potential for additional milestone payments-

-John T. Gray, Ph.D. appointed Vertex Senior Vice President, Genetic Therapies-

Vertex Pharmaceuticals Incorporated (VRTX) today announced that the company is enhancing its gene editing capabilities to develop novel therapies for Duchenne Muscular Dystrophy (DMD) and Myotonic Dystrophy Type 1 (DM1) by expanding its collaboration with CRISPR Therapeutics and acquiring Exonics Therapeutics.

Vertex and CRISPR Therapeutics (CRSP) have expanded their collaboration and entered into an exclusive licensing agreement to discover and develop gene editing therapies for the treatment of DMD and DM1.

Vertex and Exonics Therapeutics have entered into a definitive agreement under which Vertex will acquire privately held Exonics, a company focused on creating transformative gene editing therapies to repair mutations that cause DMD and other severe neuromuscular diseases.

https://finance.yahoo.com/news/vertex-expands-disease-areas-enhances-211200875.html