Vertex Pharma, Obsidian Announce Research Collaboration And Licensing Agreement

(RTTNews) - Vertex Pharmaceuticals Incorporated (VRTX) and Obsidian Therapeutics have entered a research collaboration and licensing agreement, under which Obsidian will use its cytoDRiVE technology to develop novel regulated gene editing therapy candidates for multiple serious diseases. Obsidian grants Vertex the exclusive option to license worldwide rights to candidates developed under the collaboration.

Vertex will pay Obsidian up to $75 million in upfront payments and research milestones, including an equity investment in Obsidian. Obsidian is eligible to receive up to $1.3 billion in potential payments. Also, Vertex will pay tiered royalties on future net sales on any products that may result from the collaboration.