Vertex raises own stakes for clinical hemoglobinopathies program, paying CRISPR Therapeutics $900M up front to expand rights

Vertex’s decision to revise its agreement with CRISPR Therapeutics, taking an enlarged stake in a clinical therapy for hemoglobinopathies, suggests an increased reliance on the gene editing program as Vertex builds a future beyond cystic fibrosis, while furnishing its Swiss-American partner with $900 million up front to advance its own pipeline.

The deal effectively values CTX101, the partners’ ex vivo gene edited therapy for sickle cell disease and transfusion-dependent β thalassemia (TDT), at $9 billion. Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) and CRISPR Therapeutics AG (NASDAQ:CRSP) had previously agreed to split profits and losses equally; the revised deal favors Vertex with a 60%-40% split, enlarging its interest by 10%...