Entrada Therapeutics closes agreement with Vertex

Entrada Therapeutics (TRDA) announced the expiration of the waiting period under the Hart-Scott-Rodino, HSR, Antitrust Improvements Act of 1976 and closing of the Company’s previously announced strategic collaboration and license agreement with Vertex (VRTX). Under the terms of the agreement announced on December 8, 2022, Entrada will receive an upfront payment of $224M, as well as an equity investment of $26M at $16.26 per share. Entrada is eligible to receive up to $485M 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. The Company anticipates that proceeds from the collaboration, equity investment and achievement of certain milestones, together with its existing cash, cash equivalents and marketable securities will extend its cash runway into the second half of 2025, supporting the Company’s expansion and continued development of EEV-therapeutic candidates targeting Duchenne muscular dystrophy as well as other indications beyond neuromuscular diseases.