TRDA - Entrada Vertex licensing deal on muscle disorder program closes after US antitrust clearance

• Entrada Therapeutics ( NASDAQ: TRDA ) closed a licensing agreement with Vertex Pharmaceuticals ( NASDAQ: VRTX ) targeting muscular disorder myotonic dystrophy type 1 (DM1) after the waiting period under the U.S. antitrust law expired.
• The companies had signed a collaboration agreement in December 2022. Entrada will receive $224M upfront, and $26M as an equity investment from Vertex at $16.26 per share.
• Entrada is eligible to receive up to $485M in certain research, development, regulatory and commercial milestones, and royalties on net sales.
• The agreement includes a four-year global research collaboration under which Entrada will continue to advance and receive payments for certain research activities related to ENTR-701, and an additional DM1-related research activities.
• Vertex will be responsible for global development, manufacturing and commercialization of ENTR-701 and any additional programs arising from Entrada's DM1 research efforts.
• Entrada said its cash runway is extended into H2 of 2025.
• VRTX +0.26% to 294.10 premarket Feb. 9

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