Vertex Joins Forces With Arbor To Build Gene-Editing Therapies
Zacks Investment Research | Jan 03, 2019 10:01PM ET
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) announced that it has entered into a strategic research collaboration deal with privately held, Massachusetts-based Arbor Biotechnologies to discover novel proteins that the former may use in developing gene-editing therapies to treat five serious diseases including cystic fibrosis (CF).
Following this deal, Vertex is looking to leverage Arbor's protein biodiscovery platform based on machine learning, genome sequencing, gene synthesis and high-throughput screening.
Per the agreement, Arbor is eligible to receive an undisclosed upfront cash payment from Vertex along with research funding, potential milestones payments and royalties on net sales. While Arbor will look after the discovery activities, Vertex will provide funding for the same.
Additionally, Vertex will make an investment in Arbor’s convertible notes and subsequently, take an observer seat on the latter’s board.
Shares of Vertex have increased 5.1% in the past year against the Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.