A UT Southwestern Medical Center gene therapy-based biotech company has been announced as an M&A target for a Massachusetts based company in what could be $1 billion dollar deal.
Exonics Therapeutics was co-founded in 2017 by Dr. Eric Olson. The deal will allow for expedited research and development of the company’s gene editing therapies for neuromuscular diseases, including Duchenne muscular dystrophy.
Boston-based Vertex Pharmaceuticals will pay Exonics shareholders $245 million upfront and future payments of more than $700 million if the company meets certain regulatory and clinical milestones. The details were not disclosed.