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April 21, 2021, 8:00 a.m. EDT

Vertex to study experimental gene-editing therapy as treatment for sickle cell, beta-thalassemia

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By Jaimy Lee

Vertex Pharmaceuticals Inc. /zigman2/quotes/202259802/composite VRTX +0.87% said Tuesday it plans to pay $1.1 billion to Crispr Therapeutics AG /zigman2/quotes/201181046/composite CRSP -0.13% as part of a deal to test an experimental gene-editing therapy for sickle cell disease and transfusion-dependent beta-thalassemia. The companies previously set up a development deal in 2015; as part of the amended one, which was announced Tuesday, Vertex will pay the Swiss genome-editing company a new $900 million upfront payment, with an additional $200 million available for meeting regulatory milestones, to test the investigational therapy for the blood disorders. In exchange, Vertex will provide 60% of costs and get 60% of profits from future sales if the therapy is approved and commercialized. Since the start of the year, Vertex's stock is down 6.8%, shares of Crispr Therapeutics have dropped 20.5%, and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.74% is up 10.1%.

/zigman2/quotes/202259802/composite
US : U.S.: Nasdaq
$ 215.01
+1.85 +0.87%
Volume: 1.23M
May 7, 2021 4:00p
P/E Ratio
20.48
Dividend Yield
N/A
Market Cap
$55.66 billion
Rev. per Employee
$1.83M
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/zigman2/quotes/201181046/composite
US : U.S.: Nasdaq
$ 107.70
-0.14 -0.13%
Volume: 1.58M
May 7, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$8.16 billion
Rev. per Employee
$1,754
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/zigman2/quotes/210599714/realtime
US : S&P US
4,232.60
+30.98 +0.74%
Volume: 2.05B
May 7, 2021 5:15p
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