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Intellia nabs $10M from Novartis on expanded partnership

2018-12-07 01:21    Investing

Intellia nabs M from Novartis on expanded partnership Stock News

© Reuters. Intellia nabs $10M from Novartis on expanded partnership
  • 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).
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