Vertex, CRISPR Therapeutics ink licensing deal for diabetes therapies
Michail_Petrov-96/iStock via Getty Images


Vertex Pharmaceuticals (NASDAQ:VRTX) has signed a licensing deal with CRISPR Therapeutics (NASDAQ:CRSP) to accelerate development of its hypoimmune cell therapies for the treatment of type 1 diabetes (T1D).
As part of the deal, Vertex (VRTX) will make a $100M up-front payment to CRISPR (CRSP) to gain non-exclusive rights to its gene editing technology for the development of hypoimmune gene-edited cell therapies for T1D.

CRISPR (CRSP) will also be eligible for up to an additional $230M in research and development milestones and receive royalties on any future products resulting from this deal.
Shares of Crispr Therapeutics (CRSP) were up 2.46% in Monday's premarket hours