The Life Sciences team advised CRISPR Therapeutics (NASDAQ: CRSP) on amending its collaboration agreement with Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) to develop, manufacture, and commercialize CTX001, an investigational CRISPR/Cas9-based gene editing therapy that is being developed as a potentially curative therapy for sickle cell disease (SCD) and transfusion-dependent beta-thalassemia (TDT).
CRISPR Therapeutics is a leading gene editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform.
Vertex is a global biotechnology company that invests in scientific innovation to create transformative medicines for people with serious diseases.
Under the terms of the amended agreement, Vertex will lead global development, manufacturing, and commercialization of CTX001 with support from CRISPR Therapeutics. Vertex will be responsible for 60% of program costs and will receive 60% of profits from future sales of CTX001 worldwide, representing a 10% increase in program economics compared to the previous agreement. CRISPR will be responsible for 40% of costs and will receive 40% of profits. Additionally, CRISPR will receive a $900 million upfront payment, with potential for a $200 million payment upon the first regulatory approval of CTX001.