CRISPR Therapeutics and StrideBio Expand Exclusive Development and Option Agreement

ZUG, Switzerland and CAMBRIDGE, Mass. and Durham, N.C., Feb. 19, 2019 (GLOBE NEWSWIRE) -- CRISPR Therapeutics (Nasdaq: CRSP), a biopharmaceutical company focused on creating transformative gene-based medicines for serious diseases, and StrideBio, Inc., a leading developer of novel adeno-associated viral (AAV)-based gene therapies, today announced that a strategic collaboration, previously initiated in April 2017 to generate engineered AAV capsids with improved properties for in vivo gene editing programs, has now been expanded to include additional undisclosed applications. The financial terms of the new expanded development and option agreement have not been disclosed.

“We are very excited to expand our partnership with CRISPR Therapeutics to now include additional gene editing applications,” stated Sapan Shah, Ph.D., Chief Executive Officer, StrideBio, Inc. “Building on our progress to date, this new agreement highlights the potential of StrideBio’s platform to generate unique next-generation capsids with enhanced profiles, including potency, tissue specificity and immune evasion, which can enable new therapies for patients.”

“We are encouraged by the initial results of our collaboration with StrideBio and look forward to expanding it into other areas. The combined strength of StrideBio’s AAV platform and CRISPR Therapeutics’ leading gene editing platform has the potential to enable differentiated gene-editing therapies. Expansion of this partnership is one more step in our overall strategy of accessing the best possible supporting technologies to augment our core platform,” said Tony Ho, M.D., Executive Vice President and Head of Research & Development at CRISPR Therapeutics.

About StrideBio, Inc.

StrideBio, Inc. is a gene therapy company focused on creating and developing novel adeno-associated viral (AAV) therapies for rare diseases. Our STRucture Inspired DEsign approach holds the potential to generate unique AAV-based capsids with improved characteristics including potency, tissue tropism, and ability to evade pre-existing antibodies. This powerful new approach has broad application, enabling gene addition, gene silencing and gene editing modalities for a wide range of diseases, including rare genetic diseases. StrideBio is headquartered in Durham, NC. Current investors include Hatteras Venture Partners, Takeda Ventures, UCB Ventures and Alexandria Real Estate Equities, Inc. For more information, please visit .

About CRISPR Therapeutics

CRISPR Therapeutics is a leading gene editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases. To accelerate and expand its efforts, CRISPR Therapeutics has established strategic collaborations with leading companies including Bayer AG, Vertex Pharmaceuticals and ViaCyte, Inc. CRISPR Therapeutics AG is headquartered in Zug, Switzerland, with its wholly-owned U.S. subsidiary, CRISPR Therapeutics, Inc., and R&D operations based in Cambridge, Massachusetts, and business offices in London, United Kingdom. For more information, please visit .

CRISPR Therapeutics Forward-Looking Statement

This press release may contain a number of “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding CRISPR Therapeutics’ expectations about any or all of the following: (i) clinical trials (including, without limitation, the timing of filing of clinical trial applications and INDs, any approvals thereof and the timing of commencement of clinical trials), development timelines and discussions with regulatory authorities related to product candidates under development by CRISPR Therapeutics and its collaborators; (ii) the number of patients that will be evaluated, the anticipated date by which enrollment will be completed and the data that will be generated by ongoing and planned clinical trials, and the ability to use that data for the design and initiation of further clinical trials; (iii) the scope and timing of ongoing and potential future clinical trials; (iv) the intellectual property coverage and positions of CRISPR Therapeutics, its licensors and third parties; (v) the sufficiency of CRISPR Therapeutics’ cash resources; and (vi) the therapeutic value, development, and commercial potential of CRISPR/Cas9 gene editing technologies and therapies. Without limiting the foregoing, the words “believes,” “anticipates,” “plans,” “expects” and similar expressions are intended to identify forward-looking statements. You are cautioned that forward-looking statements are inherently uncertain. Although CRISPR Therapeutics believes that such statements are based on reasonable assumptions within the bounds of its knowledge of its business and operations, forward-looking statements are neither promises nor guarantees and they are necessarily subject to a high degree of uncertainty and risk. Actual performance and results may differ materially from those projected or suggested in the forward-looking statements due to various risks and uncertainties. These risks and uncertainties include, among others: the outcomes for each CRISPR Therapeutics’ planned clinical trials and studies may not be favorable; that one or more of CRISPR Therapeutics’ internal or external product candidate programs will not proceed as planned for technical, scientific or commercial reasons; that future competitive or other market factors may adversely affect the commercial potential for CRISPR Therapeutics’ product candidates; uncertainties inherent in the initiation and completion of preclinical studies for CRISPR Therapeutics’ product candidates; availability and timing of results from preclinical studies; whether results from a preclinical trial will be predictive of future results of the future trials; uncertainties about regulatory approvals to conduct trials or to market products; uncertainties regarding the intellectual property protection for CRISPR Therapeutics’ technology and intellectual property belonging to third parties; and those risks and uncertainties described under the heading "Risk Factors" in CRISPR Therapeutics’ most recent annual report on Form 10-K, and in any other subsequent filings made by CRISPR Therapeutics with the U.S. Securities and Exchange Commission, which are available on the SEC's website at . Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. CRISPR Therapeutics disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, other than to the extent required by law.

CRISPR Therapeutics Investor Contact:

Susan Kim

CRISPR Therapeutics Media Contact:

Jennifer Paganelli

WCG on behalf of CRISPR

STRIDEBIO Contact:

Richard E. T. Smith, Ph.D.