Vertex Pharmaceuticals Inc. (VRTX) and Entrada Therapeutics Inc. (TRDA) have established collaboration to discover and develop endosomal escape vehicle therapeutics for Myotonic Dystrophy Type 1 (DM1). The collaboration includes Entrada's program for DM1, ENTR-701, which is in late-stage preclinical development.
As per the terms of the deal, Entrada will receive an upfront payment of $224 million, as well as an equity investment of $26 million. Entrada is eligible to receive up to $485 million for the successful achievement of certain research, development, regulatory and commercial milestones, and tiered royalties on future net sales for any products that may result from this collaboration agreement.
The agreement includes a four-year global research collaboration whereby Entrada will continue to advance and receive payments for certain research activities related to ENTR-701, as well as additional DM1-related research activities.
Vertex will be responsible for global development, manufacturing and commercialization of ENTR-701 and any additional programs stemming from Entrada's DM1 research efforts.
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