Regeneron agrees six-year $75 million upfront licencing deal with Intellia for gene technology
pharmafile | April 12, 2016 | News story | Manufacturing and Production, Research and Development, Sales and Marketing | IPO, Intellia Therapeutics, Licencing, Regeneron Pharmaceuticals, crispr, deal, gene editing, genetics
Regeneron Pharmaceuticals Inc (Nasdaq: REGN) on Tuesday said it has signed a six-year licencing deal with biotech firm Intellia Therapeutics Inc worth $75 million upfront to jointly develop CRISPR/Cas gene-editing technology.
In addition, Regeneron will also invest up to $50 million in Intellia’s next equity financing.
Intellia, engaged in editing defective genes, also disclosed plans for an initial public offering. The company is focused on a technology called Crispr-Cas9 that is expected to herald a new way of treating chronic diseases like cancer by targeting specific genes and removing them.
US-based Intellia is developing potential treatments for liver and blood diseases and cancer.
The proceeds from the offering will be used to fund the development of its product candidates as well as developing delivery technologies.
The company plans to list its shares on the Nasdaq Global Market under the symbol “NTLA.”
Intellia filed confidential IPO paperwork in September, filed a Form S-1 on Monday to raise up to $120 million, but that is a placeholder amount likely to change.
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