When the first biotech companies emerged to capitalize on the revolutionary genome-editing technology CRISPR, Editas Medicine seemed like the pacesetter. It locked up some of the crucial IP, and had behind it the pioneering scientist Feng Zhang of the Broad Institute as one of its founders.

But now, a decade later, Editas is seen as lagging behind its peers. CRISPR Therapeutics, in partnership with Vertex Pharmaceuticals, won the race to get the first CRISPR-based medicine across the finish line. Intellia Therapeutics was the first to show that CRISPR editing could be performed inside the body. Editas, meanwhile, has seen a revolving door among its executives.

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So what happened?

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