- Vertex Pharmaceuticals Inc (NASDAQ:VRTX) and Arbor Biotechnologies have announced a new collaboration to develop ex vivo engineered cell therapies.
- The new agreement between Arbor and Vertex builds upon the companies’ first partnership established in 2018.
- Related: Intellia Shared Promising Biomarker Data From CRISPR/Cas9 Genome Editing Candidate.
- Under this new partnership, Vertex can use Arbor’s proprietary CRISPR gene-editing technology to research and develop ex vivo engineered cell therapies.
- The technology will go toward Vertex’s insulin-producing hypoimmune islet cells to treat Type 1 diabetes and next-generation sickle cell disease and beta-thalassemia treatments.
- The partnership includes up to seven potential programs.
- Under the agreement terms, Arbor will receive an upfront cash payment and is eligible to receive up to $1.2 billion in potential milestone payments.
- In addition, Vertex will pay tiered royalties on future net sales on any products that may result from this collaboration.
- Vertex will also make an investment in Arbor in the form of a convertible note.
- Price Action: VRTX shares are up 0.81% at $200 during the premarket session on the last check Tuesday.
Why Tesla Shares Are Trading Higher Today
Tesla Inc (NASDAQ: TSLA) is trading higher Monday morning after the company announced better-than-expected vehicle production and delivery numbers for the fourth quarter and full-year 2021.
