Benzinga | Jun 17, 2021 04:22PM EDT

Intellia Therapeutics On Jun. 14 Entered Amendment To Collaborative Research Agreement With Novartis; Amendment Amends Novartis' Rights With Respect To CAR-T Therapeutic Targets Under Agreement

On June 14, 2021, Intellia Therapeutics, Inc. ("Intellia") entered into Amendment #3 (the "Amendment") to its License and Collaborative Research Agreement (the "Collaboration Agreement"), dated as of December 18, 2014, with Novartis Institutes for Biomedical Research, Inc. ("Novartis"). The Amendment amends Novartis' rights with respect to all the CAR-T Therapeutic Targets (as defined in the Collaboration Agreement) that Novartis selected under the Collaboration Agreement, including (a) making Novartis' license non-exclusive for such CAR-T Therapeutic Targets, (b) removing Novartis' diligence and related reporting obligations for such CAR-T Therapeutic Targets, and (c) refining the scope of Novartis' sublicense rights for such CAR-T Therapeutic Targets. Intellia agreed to pay to Novartis a one-time payment of $10.0 million within 30 days after the effective date of the Amendment.

The foregoing summary is qualified in its entirety by reference to the Amendment filed as an exhibit to this Form 8-K. The Company has sought confidential treatment for certain portions of the Amendment.