Vertex Pharmaceuticals will be in charge of the global development, production, and marketing of Entrada Therapeutics’ ENTR-701 as well as any future candidates emerging from the latter’s DM1 research
Entrada Therapeutics, Vertex Pharmaceuticals close the previously announced collaboration and licensing deal. (Credit: Towfiqu barbhuiya on Unsplash)
Entrada Therapeutics and Vertex Pharmaceuticals have finalised the previously announced collaboration and licensing deal to discover and develop Endosomal Escape Vehicle (EEV)-based therapeutics for myotonic dystrophy type 1 (DM1) using the former’s EEV platform.
The EEV therapies are created to enable the delivery of a range of therapeutics intracellularly into a variety of tissues and organs, thereby improving the therapeutic index.
According to the terms of the deal, US-based Entrada Therapeutics will be given an upfront payment of $224m by Vertex Pharmaceuticals along with an equity investment of $26m at a share price of $16.26. The deal was announced in December 2022.
The biopharmaceutical company will also be entitled to be paid up to $485m by Vertex Pharmaceuticals for the successful meeting of specific research, development, regulatory, and commercial milestones.
Additionally, Entrada Therapeutics will receive tiered royalties on any net sales in the future of any products that may come from the collaboration agreement.
The deal also includes a four-year global research collaboration, under which Entrada Therapeutics will continue to advance and get compensated for specific ENTR-701-related research efforts as well as other DM1-related research activities.
ENTR-701 is the company’s late-stage preclinical candidate for the treatment of DM1.
Entrada Therapeutics stated: “The Company anticipates that proceeds from the collaboration, equity investment and achievement of certain milestones, together with its existing cash, cash equivalents and marketable securities will extend its cash runway into the second half of 2025, supporting the Company’s expansion and continued development of EEV-therapeutic candidates targeting Duchenne muscular dystrophy as well as other indications beyond neuromuscular diseases.”
Vertex Pharmaceuticals will be in charge of the global development, production, and marketing of ENTR-701 as well as any future candidates emerging from its partner’s DM1 research.