Verve Therapeutics Inc (NASDAQ:VERV) entered into an amended and restated collaboration and license Agreement with Beam Therapeutics Inc (NASDAQ:BEAM), which amended the agreement initially announced in April 2019.

• The original agreement provided Verve with an exclusive, worldwide, sublicensable license under certain of Beam’s base editing, gene editing, and delivery technologies for applications against four liver-mediated cardiovascular disease targets and two undisclosed gene targets.
• Under the amendment, Beam granted Verve a license toward an additional liver-mediated cardiovascular disease target. 
• Verve will be responsible for developing and commercializing products targeting such genes, subject to Beam’s opt-in right. 
• Following the final dosing of a patient in the Phase 1 trial of a licensed product for such gene, Beam can opt-in to share 35% of development costs, commercializing costs, and profits.
• If Beam does not opt-in, it would be entitled to receive milestones and royalties.
• Verve granted Beam an exclusive license under Verve’s intellectual property, including under Verve’s GalNAc-LNP delivery technology, relating to a preclinical program developed by Verve.
• In addition, the amended agreement grants Beam, on a target-by-target basis, the option to obtain a non-exclusive license to Verve’s GalNAc-LNP delivery technology.
• Beam would owe Verve a fee upon exercise of each option, certain milestones, and low single-digit royalties.
• Price Action: BEAM stock closed at $45.56, and VERV stock closed at $17.59 on Wednesday.
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