Orum Therapeutics Licenses 'TPD²' to Vertex for $310mn Per Target
Vertex Granted Rights to Utilize TPD² for Gene Editing Therapy Development $15 Million Upfront Payment, Option Agreements for Three DACs Developed Using TPD²
Orum Therapeutics (CEO Seung-Joo Lee) announced on July 16th a global multi-target license and option agreement with Vertex Pharmaceuticals. Under this agreement, Vertex will leverage Orum's Dual-Precision Targeted Protein Degradation (TPD²) technology to research and identify new pre-treatment agents for gene-editing therapies.
Upon completion of the research period for each target, Vertex will have the option to obtain a global exclusive license for the degrader-antibody conjugates (DAC) developed using Orum’s TPD² technology. This includes rights for research, development, manufacturing, and commercialization of the DAC.
According to the agreement, Orum will receive an upfront payment of $15 million, with additional options and milestone payments of up to $310 million for up to three DACs. Orum will also receive tiered royalties on global annual net sales post-commercialization. Vertex will be responsible for all research, development, and commercialization activities.
Seung-Joo Lee, CEO of Orum Therapeutics, stated, "Vertex is a leader in discovering and developing innovative medicines and has the distinction of having the first FDA-approved CRISPR/Cas9 gene-editing therapy. We are delighted they have chosen to use Orum's TPD² technology to discover new pre-treatment agents. This agreement opens the possibility for our pioneering targeted protein degradation approach to treat patients with new disease indications."
Vertex, which dominates the cystic fibrosis market, recorded sales of $9.87 billion last year. Notably, they launched 'CASGEVY,' the first CRISPR/Cas9-based treatment for sickle cell disease last year, establishing a new foothold in novel modality research and development.
Orum Therapeutics specializes in developing DACs, considered a new modality, and focuses its research and development efforts around its TPD² platform technology. Last November, the company transferred 'ORM-6151,' a GSPT-targeted DAC based on an anti-CD33 antibody, to Bristol-Myers Squibb (BMS) under a licensing agreement valued at $180 million, receiving $100 million as an upfront payment.