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Subsequent Events
9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events

10. Subsequent Events

 

On May 5, 2021, the Company entered into a research collaboration agreement (the “CRISPR Agreement”) with CRISPR Therapeutics (“CRISPR”) to co-develop and co-commercialize an engineered CAR-NK product candidate targeting the CD70 tumor antigen. In addition, Nkarta will have non-exclusive rights to five CRISPR-Cas9 gene editing targets that can be engineered into an unlimited number of its own NK cell products. The companies will also bring together their complementary cell therapy engineering and manufacturing capabilities to advance the development of a novel NK plus T cell (“NK+T”) product candidate that will be the second collaboration product. CRISPR also has an option to co-develop and co-commercialize a future CAR-NK program.

 

Under the terms of the agreement, the Company and CRISPR share equally all research and development costs and potential profits worldwide related to the collaboration products. For the NK+T program, CRISPR is responsible for gene-editing activities and T cell related activities, and Nkarta is responsible for NK cell related activities.  For each non-collaboration product candidate incorporating a gene editing target licensed from CRISPR, the Company would retain worldwide rights and may be required to make potential future payments based on the achievement of development and regulatory approval milestones totaling less than mid-twenty million dollars for each non-collaboration product, as well as tiered royalties up to the mid-single digits on net product sales of such product.