Editas adds to Celgene collaboration-stoked up move

CRISPR/Cas9 gene editor Editas Medicine (EDIT +4%) is up on average volume, adding to yesterday’s 9% jump after it announced an amended collaboration agreement with Celgene (CELG) aimed at researching, developing and commercializing autologous and allogeneic alpha-beta T cell therapies for cancer and autoimmune diseases that will earn it an upfront $70M payment.

Under the terms of the amended deal, CELG will have the rights to in-license genome editing tools developed by EDIT for these therapies. For each program, it will pay EDIT milestones and royalties.

EDIT originally entered the collaboration in 2015 with Juno Therapeutics, acquired by Celgene in March 2018 for $9B. That agreement is set to expire in 2020.

The buying has spread to compatriots Intellia Therapeutics (NTLA +5.3%) and CRISPR Therapeutics (CRSP +3.3%)

https://seekingalpha.com/news/3518760-editas-adds-celgene-collaboration-stoked-move-shares-ahead-4-percent