Benzinga | Aug 24, 2021 11:41AM EDT

Shape Therapeutics, Roche Form $3B RNA Editing Collaboration

* Shape Therapeutics Inc announced a multi-target strategic collaboration and license agreement with Roche Holding AG (OTC:RHHBY) for RNA editing technology.

* Through this partnership, ShapeTX will apply its proprietary RNA editing platform RNAfix and potentially leverage its AAVid technology platform to develop gene therapy for certain targets in certain targets areas of Alzheimer's disease, Parkinson's disease, and rare diseases.

* ShapeTX will conduct preclinical research to identify and deliver development candidates.

* Roche will be responsible for the development and worldwide commercialization of any potential products resulting from the collaboration.

* Under the agreement terms, ShapeTX is eligible to receive an initial payment and over $3 billion in milestone payments.

* Price Action: RHHBY shares are down 0.28% at $50.23 during the market session on the last check Tuesday.