Intellia plans IPO, strikes deal with Regeneron

Intellia Therapeutics Inc., a Cambridge startup developing gene-editing technology, registered Monday to sell shares in an initial public offering and unveiled a collaboration and licensing deal with Regeneron Pharmaceuticals Inc., a large biotechnology company based in Tarrytown, N.Y.

In a regulatory filing, Intellia said it would seek to raise $120 million, a placeholder amount that could change before it prices its shares. Under its agreement with Regeneron, Intellia will receive an upfront payment of $75 million and is eligible to receive unspecified milestone and royalty payments if Regeneron markets up to 10 drugs based on Intellia’s gene-editing technology.

Regeneron also agreed to invest up to $50 million in Intellia’s next equity financing round, but the partners did not specify whether Regeneron would be investing in the IPO.

Intellia is one of a trio of Cambridge companies using a scientific tool known as CRISPR-Cas9, which holds the promise of curing thousands of genetic diseases by cutting out, reordering, and reinserting DNA.