Business
Precision BioSciences Announces In Vivo Gene Editing Collaboration with Novartis to Develop Potentially Curative Treatment for Disorders Including Sickle Cell Disease
- Precision to Receive $75 Million Upfront for a Single Target; Precision Eligible to Receive up to an Additional $1.4 Billion in Milestones and Tiered
About this update from Precision Biosciences, Inc.
[{"type":"text","content":"\n- Precision to Receive $75 Million Upfront for a Single Target; Precision Eligible to Receive up to an Additional $1.4 Billion in Milestones and Tiered Royalties on Sales of Licensed Products\n\n- Precision to Develop a Single ARCUS® Nuclease Designed for Safe and Efficient In Vivo Gene Insertion\n\n- Collaboration Combines Precision’s Proprietary ARCUS Genome Editing Platform and Gene Insertion Capabilities with Novartis’ Drug Discovery and Gene Therapy Expertise\n\n- Extends Precision’s Cash Runway into Q2 2024\n\n- Precision to Host Conference Call Tomorrow, June 22, 2022, at 8:00 AM ET\n\n DURHAM, N.C.--(BUSINESS WIRE)--\nPrecision BioSciences, Inc. (Nasdaq: DTIL), a clinical stage gene editing company developing ARCUS-based ex vivo allogeneic CAR T and in vivo gene editing therapies, today announced it has entered into an exclusive worldwide in vivo gene editing research and development collaboration and license agreement with Novartis Pharma AG (the “Agreement”). As part of the Agreement, Precision will develop a custom ARCUS nuclease that will be designed to insert, in vivo, a therapeutic transgene at a “safe harbor” location in the genome as a potential one-time transformative treatment option for diseases including certain hemoglobinopathies such as sickle cell disease and beta thalassemia.\n\nUnder the terms of the Agreement, Precision will develop an ARCUS nuclease and conduct in vitro characterization, with Novartis then assuming responsibility for all subsequent research, development, manufacturing and commercialization activities. Novartis will receive an exclusive license to the custom ARCUS nuclease developed by Precision for Novartis to further develop as a potential in vivo treatment option for sickle cell disease and beta thalassemia. Precision will receive an upfront payment of $75 million and is eligible to receive up to an aggregate amount of approximately $1.4 billion in additional payments for future milestones. Precision is also eligible to receive certain research funding and, should Novartis successfully commercialize a therapy from the collaboration, tiered royalties ranging from the mid-single digits to low-double digits on product sales.\n\n“We are excited to collaborate with Novartis to bring together the precision and versatility of ARCUS genome editing with Novartis’ gene therapy expertise and ...