Molecular Templates: Vertex Terminates Collaboration

 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.

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