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AH NEWS TODAY
Editas Medicine Announces $50+ Million Monetization Financing with DRI Healthcare Trust
Editas Medicine (Nasdaq: EDIT) has announced a $57 million upfront cash payment from DRI Healthcare Trust in exchange for certain future license fees and payments under its Cas9 license agreement with Vertex Pharmaceuticals. This non-dilutive capital will support Editas Medicine's pipeline development and strategic priorities.
The deal includes up to 100% of future annual license fees ranging from $5 million to $40 million per year and a mid-double-digit percentage of Editas Medicine's portion of a potential $50 million contingent upfront payment from Vertex. Editas Medicine retains rights to fixed annual license fees for 2024 and a mid-single-digit million-dollar payment upon Vertex achieving certain annual sales milestones.
This agreement follows Editas Medicine's December 2023 non-exclusive license to Vertex for Cas9 gene editing technology in sickle cell disease and beta thalassemia treatments, including CASGEVY®.
The deal includes up to 100% of future annual license fees ranging from $5 million to $40 million per year and a mid-double-digit percentage of Editas Medicine's portion of a potential $50 million contingent upfront payment from Vertex. Editas Medicine retains rights to fixed annual license fees for 2024 and a mid-single-digit million-dollar payment upon Vertex achieving certain annual sales milestones.
This agreement follows Editas Medicine's December 2023 non-exclusive license to Vertex for Cas9 gene editing technology in sickle cell disease and beta thalassemia treatments, including CASGEVY®.
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TranceHead : thought you weren't going to be on today my friend. Take care and look after yourself. i look forward to your posts on your return. hoping you get a bill of clean health.