07:21 AM EDT, 10/04/2024 (MT Newswires) -- DRI Healthcare Trust (DHT-U.TO), which rose more than 3% and hit fresh 52 week highs yesterday, overnight Thursday said it has acquired part of genome-editing company Editas Medicine's payment rights under a license to Vertex Pharmaceuticals for Casgevy (exagamglogene autotemcel) for US$57 million.

The transaction adds another innovative rare disease therapy to the DRI's portfolio, the company said.

Casgev is a gene therapy and is a one-time treatment for sickle cell disease and transfusion-dependent beta thalassemia. It is made specifically for each patient and has been approved by both the FDA and the European Medicines Agency. It is marketed worldwide by Vertex.

The transaction entitles the Trust to specific payments based on a sublicensing agreement between Editas and Vertex. These include a share of the annual license fees that Vertex pays to Editas, which can range from US$5 million to US$40 million, and includes certain sales-based annual license fee increases. The Trust can also receive a mid-double-digit percentage of Editas' share of a US$50 million contingent payment it is eligible under the Vertex agreement. The first payment is expected in January 2025 and the term of the payment streams runs until 2034.