Vertex Pharmaceuticals Raises Bet on CRISPR Therapeutics
The relationship between Vertex Pharmaceuticals (NASDAQ: VRTX) and CRISPR Therapeutics (NASDAQ: CRSP) is taking another big step forward. On Tuesday morning, the collaboration partners amended their agreement regarding CTX001 in a way that places more risk on Vertex's shoulders.
CRISPR Therapeutics and Vertex had already agreed to co-commercialize and co-develop CTX001, an experimental gene therapy for patients with sickle cell disease (SCD) or transfusion-dependent beta-thalassemia (TDT). This new amendment raises Vertex's share of development expenses and potential profits to 60% while lowering CRISPR Therapeutics' share to 40% in return for a big up-front sum.
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Source Fool.com
