Business
Precision BioSciences Reports Third Quarter 2020 Financial Results and Provides Business Update
Expanded allogeneic CAR T development collaboration with Servier to include four new programs targeting hematological and solid tumors Advanced CAR T clinical
About this update from Precision Biosciences, Inc.
[{"type":"text","content":"Expanded allogeneic CAR T development collaboration with Servier to include four new programs targeting hematological and solid tumors\n Advanced CAR T clinical pipeline, including a clinical collaboration with SpringWorks to evaluate PBCAR269A in combination with nirogacestat Prevailed in U.S. Patent Trial and Appeal Board proceedings upholding allogeneic CAR T patents Expect to report updated interim data from Phase 1/2a study of PBCAR0191 by YE20 DURHAM, N.C., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Precision BioSciences, Inc. (Nasdaq: DTIL) a clinical-stage biotechnology company dedicated to improving life with its novel and proprietary ARCUS® genome editing platform, today announced financial results for the third quarter ended September 30, 2020 and provided a business update. “Our achievements from this past quarter reflect increasing momentum with the ARCUS genome editing platform to develop a novel pipeline of allogeneic CAR T and in vivo gene correction therapeutic candidates,” said Matt Kane, CEO and co-founder of Precision BioSciences. “For our clinical portfolio, we expanded our existing partnership with Servier by adding four new targets, including two solid tumor and two hematologic programs, and entered a new clinical collaboration with SpringWorks Therapeutics for our multiple myeloma study. The PTAB issued judgements in our favor in both of the patent interferences involving our patented single-step CAR knock-in/T cell receptor (TCR) knock-out approach, which underscores the novelty of this precise editing process for allogeneic CAR T cell therapies as part of the emerging landscape in oncology.” Recent Developments and Upcoming Milestones: Allogeneic CAR T Portfolio: Expanded Development Collaboration with Servier: In September 2020, Precision announced, in collaboration with Servier, that the companies had added two additional hematological cancer targets beyond CD19 and two new solid tumor targets to its existing CAR T development and commercial license agreement. With the addition of these new targets, Precision expects to receive milestone payments in the remainder of 2020 and in 2021. Precision may also be eligible to receive option fees, as well as clinical, regulatory and sales milestone payments in addition to royalties on product sales. PBCAR0191: In August 2020, Precision announced that the U.S. Food and D...