Press Release June 11, 2019

CRISPR Therapeutics Enters Strategic Collaboration and License Agreement with Vertex Pharmaceuticals

The Life Sciences team advised CRISPR Therapeutics AG (NASDAQ: CRSP) on its strategic collaboration and license agreement with Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) to discover and develop gene editing therapies for the treatment of DMD and DM1.

Vertex will pay $175 million upfront for the exclusive worldwide rights to CRISPR Therapeutics’ existing and future intellectual property including foundational CRISPR/Cas9 technology, novel endonucleases, single and double cut guide RNAs, and AAV vectors for DMD and DM1 gene editing products. CRISPR is eligible to receive payments of up to $1 billion inclusive of the upfront and potential future payments based upon the successful achievement of specified research, development, regulatory, and commercial milestones for the DMD and DM1 programs. In addition, Vertex will pay tiered royalties on future net sales on any products that may result from this collaboration. At IND filing, CRISPR has the option to forego the DM1 milestones and royalties to co-develop and co-commercialize all DM1 products globally.

CRISPR Therapeutics is a leading gene editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.

The Goodwin team was led by partner Chris Denn and included partners Rob Puopolo and Blake Liggio and associates Xing Yan and Nate Burk, with assistance from counsel Todd Hahn.