Verve Therapeutics, Vertex Join Forces For Liver Disease-Focused Gene Program

Vertex Pharmaceuticals Incorporated VRTX and Verve Therapeutics Inc VERV announced an exclusive, four-year global research collaboration to discover and develop an in vivo gene editing program for undisclosed liver disease.
Under the terms of the collaboration, Verve will advance the discovery, research, and certain preclinical development, with all program costs funded by Vertex.
Vertex will be responsible for subsequent development, manufacturing, and commercialization of any program stemming from Verve's research efforts.
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Verve will receive an upfront payment of $60 million, including a $35 million equity investment in Verve.
Verve is also eligible to receive up to $66 million in success payments, up to $340 million in development and commercial milestones, and tiered royalties on future net sales.
Concurrently, Verve Therapeutics commenced an underwritten public offering of $200.0 million.
Price Action: VERV shares are down 18.90% at $29.11 during the premarket session on the last check Thursday. VRTX shares closed at $285.50 on Wednesday.