Intellia Pledges All Assets for $400M OrbiMed Credit Line

Intellia Therapeutics is a Cambridge, Massachusetts-based CRISPR gene-editing company with a market capitalization of approximately $1.8 billion. Its two lead programs are lonvoguran ziclumeran (lonvo-z), a one-time treatment for hereditary angioedema, and nexiguran ziclumeran (nex-z), for transthyretin amyloidosis. The company has no approved products and generates revenue entirely from collaboration agreements, principally with Regeneron.

The past twelve months have been consequential. The FDA placed a clinical hold on both nex-z Phase 3 trials in October 2025 after a patient death; both holds were subsequently lifted by March 2026. In April 2026, lonvo-z's Phase 3 HAELO trial produced an 87% reduction in hereditary angioedema attacks versus placebo, and Intellia immediately initiated a rolling biologics license application. A potential U.S. launch is targeted for the first half of 2027.

Financially, the company burned through roughly $257 million in cash during 2025, ending the year with $605.1 million. A $194.6 million underwritten equity offering at $10.75 per share closed April 30, 2026, lifting the cash balance to $628.4 million as of June 30, 2026. Management guided that existing resources will fund operations at least into 2028, an extension from the prior guidance of into the second half of 2027.