Benzinga -
- Vertex (NASDAQ:VRTX) Pharmaceuticals Incorporated (NASDAQ: VRTX) and Entrada Therapeutics Inc (NASDAQ: TRDA) announced a global collaboration focused on discovering and developing intracellular Endosomal Escape Vehicle (EEV) therapeutics for myotonic dystrophy type 1 (DM1).
- The collaboration includes Entrada's program for DM1, ENTR-701, which is in late-stage preclinical development.
- Under the terms of the agreement, Entrada will receive an upfront payment of $224 million and an equity investment of $26 million.
- Also see: Vertex Moves Its Alpha-1 Antitrypsin Deficiency Program Forward.
- Entrada can receive up to $485 million as milestone payments and tiered royalties on future net sales.
- The agreement includes a four-year global research collaboration whereby Entrada will continue to advance and receive payments for certain research activities related to ENTR-701 and additional DM1-related research activities.
- Vertex will be responsible for the global development, manufacturing, and commercialization of ENTR-701 and any additional programs stemming from Entrada's DM1 research efforts.
- Price Action: TRDA shares are up 20.4% at $21.33 on the last check Thursday.