Benzinga | Jun 15, 2021 08:06AM EDT

CRISPR Therapeutics, Capsida Collaborate To Develop Gene-Edited Therapies For Neurological Diseases

* CRISPR Therapeutics (NASDAQ:CRSP) has signed a deal with Capsida Biotherapeutics, a gene therapy player specializing in AAV engineering, to carve out a delivery mechanism for the company's gene-editing technology in familial amyotrophic lateral sclerosis (ALS) and rare neurodegenerative disorder Friedreich's ataxia.

* As part of the agreement, Capsida will pick up R&D responsibilities for the ALS program and chip away at capsid design for both programs. Meanwhile, CRISPR will manage R&D for the FA program and develop gene-editing candidates for both.

* Both companies will hold options to co-development and -commercialization rights for the program which the partner company leads.

* The financial terms of the deal were not disclosed.

* If one of the partners opts, the two firms would share R&D and commercialization costs and profits on that program.

* Capsida, with its experience in AAV production, will handle clinical and commercial manufacturing, if it reaches that point.

* Price Action: CRSP shares are trading up 0.57% at $129.50 in the premarket session on the last check Monday.