TRDA - Vertex and Entrada ink four-year partnership targeting muscle disorder
- Entrada Therapeutics ( NASDAQ: TRDA ) added ~13% pre-market Thursday after the biotech announced a four-year global research collaboration with Vertex Pharmaceuticals ( NASDAQ: VRTX ) targeting muscular disorder myotonic dystrophy type 1 (DM1).
- Per the terms, Vertex ( VRTX ) will take over the global development, manufacturing, and commercialization of Entrada’s ( TRDA ) DM1 program ENTR-701, which is currently in late-stage pre-clinical studies.
- Entrada ( TRDA ) will receive $224M in return as an upfront payment and $26M as an equity investment from Vertex ( VRTX ).
- Additionally, the company will receive milestone-based payments worth up to $485M and tiered royalties on net sales from any products resulting from the deal, which also covers Entrada’s ( TRDA ) other DM1-related programs.
- The partnership “represents an important step for Entrada as we work to make intracellular therapeutics a reality through our novel EEV approach,” Entrada ( TRDA ) Chief Executive Dipal Doshi said, referring to the company’s focus on Endosomal Escape Vehicle (EEV) drugs.
- Read: Seeking Alpha contributor Avisol Capital Partners explained the EEV technology as Entrada ( TRDA ) prepared for its IPO in 2021.
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Vertex and Entrada ink four-year partnership targeting muscle disorder