Vertex Pharmaceuticals in T1D Licensing Pact With TreeFrog Therapeutics
By Colin Kellaher
Vertex Pharmaceuticals has struck an exclusive licensing agreement with privately held TreeFrog Therapeutics in a bid to bolster production of its cell therapies for type-1 diabetes, or T1D.
Vertex on Tuesday said it will receive an exclusive license to TreeFrog's proprietary C-Stem cell-manufacturing technology, which the Boston drugmaker said will enhance its ability to generate large amounts of fully differentiated cells for its portfolio of T1D cell therapies.
Vertex said it will make a $25 million up-front payment to TreeFrog and an equity investment in the France-based biotech company, which will also be eligible for up to $215 million in milestone payments related to the development of a scaled-up process for fully differentiated, insulin-producing pancreatic islet cells.
Vertex said TreeFrog is also eligible for an additional $540 million in clinical, regulatory and commercial milestones on up to two future products, along with royalties on sales.
Vertex said it will fund all research-and-development costs related to the collaboration and will be responsible for all development and commercialization of its cell therapies.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 23, 2024 09:59 ET (13:59 GMT)
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