12:31 PM EDT, 10/04/2024 (MT Newswires) -- DRI Healthcare announced on October 3 that it acquired a portion of Editas Medicine payment rights under a non-exclusive license to Vertex Pharmaceuticals of Editas' Cas9 gene-editing technology for Casgevy for US$57 million. Casgevy is the only approved gene-edited cell therapy for Sickle Cell Disease (SCD) and Transfusion-Dependent Beta Thalassemia (TDT), and is marketed worldwide by Vertex.

"In addition to what we calculate to be an attractive return on investment with steady cash flow and potential upside, the Casgevy deal is an important data point as it should reassure the market that DRI Healthcare's pipeline has not dried up, and that the trust retains the necessary bench strength to pursue growth following recent internal turmoil," writes National Bank's Zachary Evershed. "Editas also noted that it looks forward to an ongoing relationship with DRI as Editas recycles the capital injection into its development pipeline.)

DRI Healthcare is rated Outperform, with a target of $18.50.

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