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In February 2017, the U.S. Patent and Trademark Office ruled that the Broad Institute's CRISPR-Cas9 patents did not interfere with UCB's patent applications. Editas' stock skyrocketed on the news while the stocks of biotechs allied with UCB -- CRISPR Therapeutics ( NASDAQ:CRSP ) and Intellia Therapeutics -- plummeted. The decision by the U.S. Patent and Trademark Office meant that Editas Medicine wouldn't have to shell out additional money to license intellectual property from UCB. Even better, it meant that other biotechs would likely have to pay Editas to develop CRISPR-Cas9 therapies targeting indications that Editas is also targeting. This huge patent victory set up Editas for its third win. In March 2017, the company announced a partnership with Allergan ( NYSE:AGN ) to develop CRISPR-based therapies for eye diseases. Allergan paid Editas $90 million up front for the option to license up to five of Editas' eye-disease programs, including its lead candidate targeting treatment of LCA10. Under the terms of the deal, Editas will also be eligible for development and commercial milestone payments and royalties on any future sales. Another important aspect of the agreement with Allergan is that Editas has the right to co-develop and co-market up to two of its eye-disease programs in the U.S.
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