CRISPR amends Vertex collaboration on exa-cel; $20M contingent payment, cost deferral adjustments

CRISPR Therapeutics AG

CRISPR agrees to pay Vertex $20M contingent payment upon specified event under Amendment No. 1 for exa-cel.
Deferral of CRISPR's share of costs capped at $25M annually; amounts offset against future exa-cel profitability.
Amendment allocates costs from a new third-party license agreement entered by Vertex; some details redacted.
Changes timing and portion of CRISPR's permitted cost deferrals under certain specified circumstances.

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 amended Amendment No. 1 with Vertex Pharmaceuticals Incorporated and Vertex Pharmaceuticals (Europe) Limited (effective 2023-12-12).

Action: amendment
Agreement: collaboration
Counterparty: Vertex Pharmaceuticals Incorporated and Vertex Pharmaceuticals (Europe) Limited
Effective: 2023-12-12

Exact text from the filing

On December 12, 2023, CRISPR Therapeutics AG, CRISPR Therapeutics Limited, CRISPR Therapeutics, Inc., and TRACR Hematology Ltd (together, “CRISPR”) entered into an amendment to the Amended and Restated Joint Development and Commercialization Agreement (the “Amendment No. 1”) with Vertex Pharmaceuticals Incorporated and Vertex Pharmaceuticals (Europe) Limited (together, “Vertex”), related to the global development, manufacturing, and commercialization of exagamglogene autotemcel, or exa-cel (formerly CTX001).

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Source: SEC EDGAR

accession 0000950170-23-069892

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