Business
Prime Medicine Reports Third Quarter 2024 Financial Results and Provides Business Updates
-- Presented initial in vivo data for universal liver-targeted LNP and Wilson’s Disease pr...
About this update from Prime Drink Group Corp
[{"type":"text","content":"Prime Medicine Reports Third Quarter 2024 Financial Results and Provides Business Updates\n\n\n\n\n -- Presented initial in vivo data for universal liver-targeted LNP and Wilson’s Disease program at ESGCT; initiated IND-enabling activities for Wilson’s Disease program in 4Q 2024 and remains on track to file IND and/or CTA in 1H 2026 --\n \n\n\n\n -- Announced strategic research collaboration and license agreement with Bristol Myers Squibb; received $110 million upfront, with potential for more than $3.5 billion in milestone payments --\n \n\n\n\n -- On track to report initial data from Phase 1/2 clinical trial of PM359 for p47\n \n\n\n phox\n \n\n\n CGD in 2025 --\n \n\n\n\n -- Unveiled strategically focused pipeline, prioritizing set of high value programs, each with a clearly defined path to value creation and the potential to accelerate development of follow-on programs --\n \n\n\n\n -- Pro-forma cash, cash equivalents and investments as of September 30, 2024, expected to be sufficient to fund planned operations into 1H 2026 --\n \n\n\n CAMBRIDGE, Mass., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Prime Medicine, Inc. (Nasdaq: PRME), a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, today reported financial results for the third quarter ended September 30, 2024 and provided a business update.\n \n\n “In October, we presented the first\n \n in vivo\n \n preclinical data from our Wilson’s Disease program, demonstrating that Prime Editors can efficiently correct pathogenic mutations, without introducing safety concerns or detectable off-target edits,” said Keith Gottesdiener, M.D., President and Chief Executive Officer of Prime Medicine. “These data are meaningful both for our efforts in Wilson’s Disease – a devasting condition that is believed to affect more than 20,000 people in the United States and Europe, and for which there are currently no approved disease-modifying therapies – and for our efforts in liver disease programs more broadly. Our Wilson’s Disease program leverages our proprietary, universal LNP platform, and these interim results suggest that our LNP may successfully deliver increased potency, as well as an improved safety profile and biodistribution, compared to other commonly used LNPs ...