VERTEX AND TREEFROG THERAPEUTICS ANNOUNCE LICENSING AGREEMENT AND COLLABORATION TO OPTIMIZE PRODUCTION OF VERTEX'S CELL THERAPIES FOR TYPE 1 DIABETES - Seite 2

About the Transaction

Under the agreement, TreeFrog will receive a $25M upfront payment, an equity investment from Vertex and up to $215M in milestones paid in connection with the development of a scaled-up process for fully differentiated islet cells. TreeFrog is also eligible to receive an additional $540M in clinical, regulatory and commercial milestones on up to two future products and tiered single digit royalties. Vertex will fund all research and development costs related to the collaboration. Vertex will be responsible for all development and commercialization of its cell therapies.

About Vertex

Visit www.vrtx.com or follow us on LinkedIn, Facebook, Instagram, YouTube and Twitter/X.

About TreeFrog Therapeutics

TreeFrog Therapeutics is a French-based biotech company set to unlock access to cell therapies for millions of patients. www.treefrog.fr

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements by Morrey Atkinson, Ph.D., and Frédéric Desdouits, Ph.D., in this press release, statements about the terms of and expectations for Vertex's collaboration with TreeFrog, potential benefits and results that may be achieved through the collaboration to scale-up TreeFrog's process to produce and amplify cells for Vertex's T1D therapies, including the expectation that the technology will enhance Vertex's ability to generate large amounts of fully differentiated cells, statements regarding the future activities of the parties pursuant to the collaboration, and statements regarding upfront and milestone payments, Vertex's expected equity investment in TreeFrog and potential royalties on future products. While Vertex believes the forward-looking statements contained in this press release are accurate, these forward-looking statements represent the company's beliefs only as of the date of this press release and there are a number of risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied by such forward-looking statements. Those risks and uncertainties include, among other things, that the anticipated benefits and potential of Vertex's collaboration with TreeFrog may not be achieved on the anticipated timeline, or at all, that data may not support further development of the therapies subject to the collaboration due to safety, efficacy, or other reasons, and other risks listed under the heading "Risk Factors" in Vertex's annual report filed with the Securities and Exchange Commission (SEC) and available through Vertex's website at www.vrtx.com and on the SEC's website at www.sec.gov. You should not place undue reliance on these statements. Vertex disclaims any obligation to update the information contained in this press release as new information becomes available.