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

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.

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