Making way for some ambitious growth plans that include doubling its current work force to some 200 staffers, CRISPR/Cas9 player Intellia Therapeutics threw a party to cut the ribbon on its new research digs.
Intellia grabbed new lab space at 40 Erie Street in Cambridge, MA, boosting its space from 15,000 to 80,000 square feet. And its keeping its facility at 130 Brookline Street.
Intellia scored a $108 million IPO back in May, as investors bought in $NTLA to the sizzling hot field of gene editing. But its $18 price at the time has damped down, and the stock is currently trading at $15.53.
Given the market swoon this year, though, that’s still not bad.
Some of the fervor for the field may have cooled as some long development time lines await Intellia and its chief rivals, including Editas and CRISPR Therapeutics. But the tech is cheap and easily accessible, spawning a wide array of preclinical efforts in academia and industry. And one group in China recently snared global attention when it was the first to try it in a human, using gene editing tech to dismantle a checkpoint barricade that protects cancer cells from an immune system attack.
Intellia’s largest shareholder is Caribou Therapeutics, a Californian genome engineering company spun off from Jennifer Doudna’s CRISPR lab at Berkeley. It was in fact Caribou which outlicensed the CRISPR tech to Intellia. The CEO is Nessan Bermingham, and he’s been recruiting new staffers on a regular basis.
The best place to read Endpoints News? In your inbox.
Comprehensive daily news report for those who discover, develop, and market drugs. Join 25,000+ biopharma pros who read Endpoints News by email every day.Free Subscription