Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) and Verve
Therapeutics, Inc. (Nasdaq: VERV) today announced an exclusive,
four-year global research collaboration focused on discovering and
developing an in vivo gene editing program for a single undisclosed
liver disease.
Under the terms of the collaboration, Verve will advance the
discovery, research and certain preclinical development of a novel
in vivo gene editing program for the target of interest, 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.
“This partnership with Vertex enables an important step forward
for Verve as we build out our leading gene editing capabilities and
pipeline of in vivo gene editing medicines to address serious
diseases,” said Sekar Kathiresan, M.D., Co-Founder and Chief
Executive Officer of Verve. “This agreement validates the
pioneering work at Verve to develop liver-directed gene editing
medicines and expands the reach of our capabilities and breadth of
our pipeline. We are thrilled to partner with Vertex to advance
this important research and development program.”
“Vertex is committed to discovering and developing
transformative medicines for people with serious diseases,” said
David Altshuler, M.D., Ph.D., Executive Vice President, Global
Research and Chief Scientific Officer of Vertex. “We are impressed
by the progress Verve has made and look forward to combining the
expertise in gene editing and drug development of our two companies
to serve more patients in need.”
Transaction TermsUnder the terms of the
agreement, 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 for any products that may result from
this collaboration agreement.
About VertexVertex is a global
biotechnology company that invests in scientific innovation to
create transformative medicines for people with serious diseases.
The company has multiple approved medicines that treat the
underlying cause of cystic fibrosis (CF) — a rare, life-threatening
genetic disease — and has several ongoing clinical and research
programs in CF. Beyond CF, Vertex has a robust pipeline
of investigational small molecule, cell and genetic therapies in
other serious diseases where it has deep insight into causal human
biology, including sickle cell disease, beta thalassemia,
APOL1-mediated kidney disease, pain, type 1 diabetes, alpha-1
antitrypsin deficiency and Duchenne muscular dystrophy.
Founded in 1989 in Cambridge, Mass., Vertex's global
headquarters is now located in Boston's Innovation District and its
international headquarters is in London. Additionally, the company
has research and development sites and commercial offices in North
America, Europe, Australia, and Latin America. Vertex is
consistently recognized as one of the industry's top places to
work, including 12 consecutive years on Science magazine's Top
Employers list and one of the 2021 Seramount (formerly Working
Mother Media) 100 Best Companies. For company updates and to learn
more about Vertex's history of innovation,
visit www.vrtx.com or follow us on Facebook, Twitter,
LinkedIn, YouTube and Instagram.
About Verve Therapeutics Verve Therapeutics,
Inc. (Nasdaq: VERV) is a clinical-stage genetic medicines company
pioneering a new approach to the care of cardiovascular disease,
transforming treatment from chronic management to single-course
gene editing medicines. The company’s initial two programs target
PCSK9 and ANGPTL3, genes that have been extensively validated as
targets for lowering blood lipids such as low-density lipoprotein
cholesterol (LDL-C), a root cause of cardiovascular disease.
Verve’s lead product candidate, VERVE-101, is designed to
permanently turn off the PCSK9 gene in the liver in order to
disrupt blood PCSK9 protein production and thereby durably reduce
blood LDL-C levels, with the goal of reducing a patient’s risk for
cardiovascular disease. VERVE-101 is being developed initially for
the treatment of patients with heterozygous familial
hypercholesterolemia, a potentially fatal genetic heart disease.
For more information, please visit www.VerveTx.com.
Vertex Forward-Looking StatementsThis press
release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995, including,
without limitation, statements by Drs. Sekar Kathiresan and
David Altshuler in this press release, statements about the
potential benefits and results that may be achieved through
Vertex’s collaboration with Verve, including Verve’s gene editing
capabilities and delivery technology, statements regarding upfront
and milestone payments and potential royalties on future sales, and
expectations about the ability to ultimately bring therapies to
patients. While Vertex believes the forward-looking
statements contained in this press release are accurate, these
forward-looking statements represent the company’s beliefs only as
of the date of this press release and there are a number of risks
and uncertainties that could cause actual events or results to
differ materially from those expressed or implied by such
forward-looking statements. Those risks and uncertainties include,
among other things, that the anticipated benefits and potential of
Vertex’s collaboration with Verve may not be achieved on the
anticipated timeline, or at all, that data may not support further
development of the therapies subject to the collaboration due to
safety, efficacy, or other reasons, and other risks listed under
the heading “Risk Factors” in Vertex's annual report filed
with the Securities and Exchange Commission (SEC) and
available through Vertex’s website at www.vrtx.com and on the
SEC’s website at www.sec.gov. You should not place undue
reliance on these statements. Vertex disclaims any
obligation to update the information contained in this press
release as new information becomes available.(VRTX-GEN)
Verve Forward-Looking StatementsThis press
release contains “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995 that involve
substantial risks and uncertainties, including statements regarding
the potential benefits and results that may be achieved through the
collaboration with Vertex, are forward-looking statements. The
words “anticipate,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “plan,” “potential,” “predict,”
“project,” “should,” “target,” “will,” “would” and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. Any forward-looking statements are based on
management’s current expectations of future events and are subject
to a number of risks and uncertainties that could cause actual
results to differ materially and adversely from those set forth in,
or implied by, such forward-looking statements. These risks and
uncertainties include, but are not limited to, risks associated
with the company’s limited operating history; the timing of and the
company’s ability to submit applications for, its product
candidates; advance its product candidates in clinical trials;
initiate and enroll clinical trials on the timeline expected or at
all; correctly estimate the potential patient population and/or
market for the company’s product candidates; replicate in clinical
trials positive results found in preclinical studies and/or
earlier-stage clinical trials of VERVE-101 and its other product
candidates; advance the development of its product candidates under
the timelines it anticipates in current and future clinical trials;
obtain, maintain or protect intellectual property rights related to
its product candidates; manage expenses; and raise the substantial
additional capital needed to achieve its business objectives. For a
discussion of other risks and uncertainties, and other important
factors, any of which could cause the company’s actual results to
differ from those contained in the forward-looking statements, see
the “Risk Factors” section, as well as discussions of potential
risks, uncertainties and other important factors, in the company’s
most recent filings with the Securities and Exchange Commission and
in other filings that the company makes with the Securities and
Exchange Commission in the future. In addition, the forward-looking
statements included in this press release represent the company’s
views as of the date hereof and should not be relied upon as
representing the company’s views as of any date subsequent to the
date hereof. The company anticipates that subsequent events and
developments will cause the company’s views to change. However,
while the company may elect to update these forward-looking
statements at some point in the future, the company specifically
disclaims any obligation to do so.
Vertex Pharmaceuticals
IncorporatedInvestors:Manisha Pai, +1
617-961-1899orMiroslava Minkova, +1 617-341-6135
Vertex Media:mediainfo@vrtx.comorU.S.: +1
617-341-6992orHeather Nichols: +1 617-839-3607orInternational: +44
20 3204 5275
Verve Investor Contact:Jen RobinsonVerve
Therapeutics, Inc.jrobinson@vervetx.com
Verve Media Contact:Ashlea
Kosikowski1ABashlea@1abmedia.com
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