Jennifer Doudna Spinout Mammoth Inks $700M CRISPR Deal With Vertex

by Vandana Singh, Benzinga Editor

October 26, 2021 1:47 PM | 1 min read | Make a Comment

Mammoth Biosciences unveiled a nearly $700 million deal with Vertex Pharmaceuticals Incorporated VRTX to develop in vivo gene therapies for two genetic diseases.
Vertex is putting down $41 million upfront, including a convertible note, to use Mammoth's CRISPR systems. And if all goes well, there's another $650 million in milestones on the line, in addition to tiered royalties.
Driven by its protein discovery engine, Mammoth's CRISPR platform consists of a proprietary toolbox of the novel, ultracompact Cas enzymes, including Cas14 and Casɸ.
Price Action: VRTX shares are down 0.21% at $184.61 during the market session on the last check Tuesday.

Posted In: Biotech News Health Care Contracts General Briefs Gene Editing Genetic Disorder

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.