- Vertex obtains an exclusive license to TreeFrog's
C-StemTM manufacturing technology in type 1
diabetes
- TreeFrog and Vertex to collaborate on scale-up of fully
differentiated, insulin-producing pancreatic islet
cells
BOSTON and BORDEAUX,
France, April 23, 2024 /CNW/ -- Vertex
Pharmaceuticals Incorporated (Nasdaq: VRTX) and TreeFrog
Therapeutics today announced that Vertex has obtained an exclusive
license to TreeFrog's proprietary cell manufacturing technology,
C-StemTM, to optimize production of Vertex's cell
therapies for type 1 diabetes (T1D). TreeFrog and Vertex will
collaborate to scale-up TreeFrog's process to produce and amplify
cells for Vertex's T1D therapies.
TreeFrog's proprietary technology platform, C-Stem™, is designed
to mimic the natural microenvironment, allowing cells to grow
exponentially in 3D. The technology will enhance Vertex's ability
to generate large amounts of fully differentiated cells for its
portfolio of T1D cell therapies.
"Our goal is to transform the treatment of T1D, and our stem
cell-derived, fully differentiated islet cell VX-880 Ph
1/2 program has demonstrated this potential," said Morrey
Atkinson Ph.D., Executive Vice President, Chief Technical
Operations Officer, Head of Biopharmaceutical Sciences and
Manufacturing Operations, at Vertex. "We're excited to explore
TreeFrog's C-StemTM to scale up stem cell production and
deliver for the large number of people living with T1D."
"We are delighted to partner with Vertex Pharmaceuticals, the
clear leader in cell therapy for T1D. This is a fantastic
opportunity to apply and further develop our C-Stem™ technology for
a first-in-class cell therapy treatment which could meet a huge
unmet need," said Frédéric Desdouits, Ph.D., CEO of TreeFrog
Therapeutics. "This collaboration with Vertex advances our business
strategy of helping bring best-in-class cell therapies to millions
of people — both through our own therapeutic programs, and with
best-in-class partners like Vertex. We look forward to combining
TreeFrog's extensive experience in cell therapy production and
biology with Vertex's renowned expertise in T1D and cell therapy to
bring these transformative therapies to patients."
About the Transaction
Under the agreement, TreeFrog will receive a $25M upfront payment, an equity investment from
Vertex and up to $215M in milestones
paid in connection with the development of a scaled-up process for
fully differentiated islet cells. TreeFrog is also eligible to
receive an additional $540M in
clinical, regulatory and commercial milestones on up to two future
products and tiered single digit royalties. Vertex will fund all
research and development costs related to the collaboration. Vertex
will be responsible for all development and commercialization of
its cell therapies.
About Vertex
Visit www.vrtx.com or follow us on LinkedIn, Facebook,
Instagram, YouTube and Twitter/X.
About TreeFrog Therapeutics
TreeFrog Therapeutics is a French-based biotech company set to
unlock access to cell therapies for millions of patients.
www.treefrog.fr
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995, as
amended, including, without limitation, statements by Morrey Atkinson, Ph.D., and Frédéric
Desdouits, Ph.D., in this press release, statements about the terms
of and expectations for Vertex's collaboration with TreeFrog,
potential benefits and results that may be achieved through the
collaboration to scale-up TreeFrog's process to produce and amplify
cells for Vertex's T1D therapies, including the expectation that
the technology will enhance Vertex's ability to generate large
amounts of fully differentiated cells, statements regarding the
future activities of the parties pursuant to the collaboration, and
statements regarding upfront and milestone payments, Vertex's
expected equity investment in TreeFrog and potential royalties on
future products. While Vertex believes the forward-looking
statements contained in this press release are accurate, these
forward-looking statements represent the company's beliefs only as
of the date of this press release and there are a number of risks
and uncertainties that could cause actual events or results to
differ materially from those expressed or implied by such
forward-looking statements. Those risks and uncertainties include,
among other things, that the anticipated benefits and potential of
Vertex's collaboration with TreeFrog may not be achieved on the
anticipated timeline, or at all, that data may not support further
development of the therapies subject to the collaboration due to
safety, efficacy, or other reasons, and other risks listed under
the heading "Risk Factors" in Vertex's annual report filed with the
Securities and Exchange Commission (SEC) and available through
Vertex's website at www.vrtx.com and on the SEC's website at
www.sec.gov. You should not place undue reliance on these
statements. Vertex disclaims any obligation to update the
information contained in this press release as new information
becomes available.
(VRTX-GEN)
TreeFrog Therapeutics
Rachel Mooney
Chief Communications Officer
Rachel.mooney@treefrog.fr
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