- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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