The collaboration will leverage Obsidian's cytoDrive platform technology to discover gene editing medicines whose therapeutic activity can be controlled using small molecules and Vertex's scientific and clinical capabilities in small-molecule, cell, and genetic therapies to accelerate the medicines to the clinic. Obsidian's cytoDrive technology provides a way to control protein degradation using small molecules, permitting precise control of the timing and level of protein expression.

Under the agreement, Obsidian will use its cytoDrive technology to develop novel, regulated gene editing therapy candidates for multiple undisclosed diseases. Vertex will have the exclusive option to license worldwide rights to candidates discovered under the collaboration. Following exercise of its options, Vertex will be responsible for the further preclinical and clinical development and commercialization of candidates.

Vertex will pay Obsidian up to $75 million in upfront payments and research milestones that may be paid during the research term, including an equity investment in Obsidian. Obsidian is eligible to receive up to $1.3 billion in potential payments based upon the successful achievement of specified research, development, regulatory, and commercial milestones across up to five potential programs.

In addition, Vertex will pay tiered royalties on future net sales on any products that may result from this collaboration.