Verve Therapeutics, Vertex Join Forces For Liver Disease-Focused Gene Program

• Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) and Verve Therapeutics Inc (NASDAQ: VERV) announced an exclusive, four-year global research collaboration to discover and develop an in vivo gene editing program for undisclosed liver disease.

• Under the terms of the collaboration, Verve will advance the discovery, research, and certain preclinical development, with all program costs funded by Vertex.

• Vertex will be responsible for subsequent development, manufacturing, and commercialization of any program stemming from Verve's research efforts.

• Also Read: Why Did BMO Capital Markets Raise Price Target For Gene Stock One Month After Initiating Coverage.

• Verve will receive an upfront payment of $60 million, including a $35 million equity investment in Verve.

• Verve is also eligible to receive up to $66 million in success payments, up to $340 million in development and commercial milestones, and tiered royalties on future net sales.

• Concurrently, Verve Therapeutics commenced an underwritten public offering of $200.0 million.

• Price Action: VERV shares are down 18.90% at $29.11 during the premarket session on the last check Thursday. VRTX shares closed at $285.50 on Wednesday.

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