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Intellia nabs $10M from Novartis on expanded partnership

Published 12/06/2018, 10:56 AM
© Reuters.  Intellia nabs $10M from Novartis on expanded partnership
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  • Intellia Therapeutics (NTLA -0.8%) will receive $10M from partner Novartis (NVS -2.4%) on the basis of an expansion of their cell therapy collaboration into the ex vivo (out of the body) development of cell therapies using certain ocular stem cells.
  • NVS will have the right to develop CRISPR/Cas9-based products for one or more targets using the stem cells.
  • In addition to the $10M payment, NTLA will be eligible to receive milestones and royalties on net sales. Specific financial terms are not disclosed.
  • The companies' original partnership, inked in January 2015, will expire in December 2019 (including this expansion).
  • Now read: AbbVie (NYSE:ABBV): A Compelling Buy


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