Intellia Therapeutics Inc NTLA:NASDAQ

Last Price$106.92NASDAQ Previous Close - Last Trade as of 4:00PM ET 12/01/21

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Day Low / High$106.90 - 117.70

Intellia Therapeutics, SparingVision Sign Deal to Develop Ocular Therapies

7:47AM ET 10/13/2021 MT Newswires
Intellia Therapeutics (NTLA) and SparingVision said they have signed a deal to develop medicines to treat ocular diseases.

SparingVision will be given exclusive rights to Intellia's proprietary CRISPR/Cas9-based genome editing technology for up to three ocular targets, according to a statement. SparingVision will lead and fund the preclinical and clinical development for the genome editing product candidates.

The companies said they also plan to research and develop approaches to address delivery of genome editing reagents to the retina.

As part of the agreement, Intellia will receive a 10% equity ownership stake in SparingVision, and will be eligible to receive milestone payments of $200 million per product and royalties on potential sales of products arising from the collaboration.

Intellia also has an option to obtain the US commercialization rights for product candidates from two of three collaboration targets, according to the statement.

For the product candidates Intellia chooses to option, it will pay an opt-in fee, reimburse certain costs, share in 50% of development costs and pay royalties to SparingVision on US sales. Intellia also will be able to leverage technology advances established under the collaboration for any targets outside the partnership, the companies said.

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