CRISPR Therapeutics licenses CRISPR/Cas9 to Vertex for $100M upfront; eligible for $230M milestones

CRISPR Therapeutics AG

Vertex pays $100M upfront for non-exclusive rights to CRISPR/Cas9 for hypoimmune cell therapies in type 1 diabetes.
CRISPR eligible for up to $230M in research and development milestones plus low-to-mid single-digit royalties.
Vertex's existing T1D programs VX-880 and VX-264 are not included; CRISPR retains ViaCyte collaboration.
Agreement expands existing relationship; Phase 1/2 study of VCTX211 (gene-edited stem cell therapy) is ongoing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CRISPR Therapeutics AG entered into Non-Exclusive License Agreement with Vertex Pharmaceuticals Incorporated valued at $100.0 million (effective 2023-03-23).

Action: entry
Agreement: license
Counterparty: Vertex Pharmaceuticals Incorporated
Value: $100.0 million
Effective: 2023-03-23

Exact text from the filing

On March 23, 2023, CRISPR Therapeutics AG (“CRISPR”) entered into a Non-Exclusive License Agreement (the “Non-Ex License”) with Vertex Pharmaceuticals Incorporated (“Vertex”), pursuant to which CRISPR agreed to license to Vertex, on a non-exclusive basis, certain of its gene editing intellectual property to exploit certain products for the diagnosis, treatment or prevention of diabetes type 1, diabetes type 2 or insulin dependent/requiring diabetes throughout the world.

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CRISPR Therapeutics AG filing history →

Source: SEC EDGAR

accession 0000950170-23-009861

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