Entrada gets $223.7M upfront from Vertex amendment; $17.5M milestone reached for ENTR-701

Entrada Therapeutics, Inc.

Received $223.7M upfront payment from Vertex under amended collaboration/license agreements.
Eligible for up to $485M in future research, development, regulatory, and commercial milestones.
Achieved $17.5M milestone for preclinical IND-enabling GLP toxicology studies of ENTR-701; expected Q4 2023.
Amendments clarify milestone definitions and payment terms; other terms unchanged.
Vertex amendments executed Oct 26, 2023; Entrada shares trade on Nasdaq as TRDA.

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

Entrada Therapeutics, Inc. amended Strategic Collaboration and License Agreement with Vertex Pharmaceuticals Incorporated valued at Upfront payment of $223.7 million and potential milestone payments up to $485.0 million (effective 2023-10-26).

Action: amendment
Agreement: collaboration
Counterparty: Vertex Pharmaceuticals Incorporated
Value: Upfront payment of $223.7 million and potential milestone payments up to $485.0 million
Effective: 2023-10-26

Exact text from the filing

On October 26, 2023, Entrada Therapeutics, Inc. (the “Company”) and Vertex Pharmaceuticals Incorporated (“Vertex”) entered into Amendment No. 1 (the “Amendment to License Agreement”) to the Strategic Collaboration and License Agreement, dated as of December 7, 2022, by and between the Company and Vertex (the “Original License Agreement” and, as amended by the Amendment to License Agreement, the “License Agreement”).

View on SEC.gov

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

Entrada Therapeutics, Inc. amended Sublicense Agreement with Vertex Pharmaceuticals Incorporated valued at Upfront payment of $223.7 million and potential milestone payments up to $485.0 million (effective 2023-10-26).

Action: amendment
Agreement: license
Counterparty: Vertex Pharmaceuticals Incorporated
Value: Upfront payment of $223.7 million and potential milestone payments up to $485.0 million
Effective: 2023-10-26

Exact text from the filing

Concurrently with the execution of the Amendment to License Agreement, on October 26, 2023, the Company entered into an Amendment No. 1 (the “Amendment to Sublicense Agreement”) to that certain Sublicense Agreement, dated as of December 7, 2022, by and between the Company and Vertex (the “Original Sublicense Agreement” and, as amended by the Amendment to Sublicense Agreement, the “Sublicense Agreement”).

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Entrada Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-113138

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