Intellia opts out of hemophilia pact with Regeneron

Intellia Therapeutics (NASDAQ:NTLA) is opting out of an agreement with Regeneron Pharmaceuticals (NASDAQ:REGN) to co-develop a factor IX gene editing therapy for hemophilia A and B, the biotechnology firm disclosed in a filing on Friday.

The agreement, which was signed in 2020, will terminate 180 days after Intellia (NTLA) provided written notice to Regeneron (REGN).

The biotech will continue to have obligations related to the co-development of gene editing products directed to factor IX until the effective date of termination. Upon termination, Intellia (NTLA) will no longer be obligated for sharing 35% of the development costs, or be entitled to receive 35% of the profits, for gene editing products directed to factor IX under the agreement.

Separately, the company would continue to support Regeneron (REGN) with the development of gene editing products directed to factor IX, as applicable, pursuant to a 2016 license and collaboration agreement between the companies.

Intellia (NTLA) may be eligible to receive up to $320M in milestone payments and royalties in the high-single digits to low teens if Regeneron (REGN) develops and commercializes gene editing products under the terms of this license and collaboration deal.

Shares of Intellia (NTLA) were down around 3% on Friday