By Chris Wack
Intellia Therapeutics Inc. shares were up 15% to $20.14 after Regeneron Pharmaceuticals Inc. expanded their collaboration to provide Regeneron with rights to develop products for additional in vivo CRISPR/Cas9-based therapeutic targets and for the companies to jointly develop potential products for the treatment of hemophilia A and B.
The companies said Regeneron will receive non-exclusive rights to independently develop and commercialize ex vivo gene-edited products.
Intellia will receive an upfront payment of $70 million, and Regeneron will make an additional equity investment in Intellia of $30 million at $32.42 a share.
Under the amended agreement, the companies will extend their collaboration until April 2024, with Regeneron having an option to renew for an additional two years. Regeneron will have rights to discover and develop CRISPR/Cas9-based therapeutic products for an additional five in vivo liver targets, for a total of up to 15 targets.
Regeneron will pay potential royalties and milestone payments for the in vivo products it independently develops. Regeneron will also receive a royalty-bearing, non-exclusive license to certain Intellia intellectual property to develop and commercialize up to 10 ex vivo CRISPR/Cas9 products in defined cell types.
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