Prime Medicine Announces Positive Resolution to Arbitration with Beam Therapeutics

About this update from Prime Medicine, Inc.

-- Arbitration tribunal declared that PM647 is within Prime Medicine's "Field", confirming Prime Medicine's right to develop and commercialize PM647 in AATD -- -- Prime Medicine owes no monetary damages to Beam Therapeutics -- -- Prime Medicine plans to submit an IND and/or CTA filing for PM647 in Q3 2026, initial clinical data expected in 2027 -- CAMBRIDGE, Mass., July 08, 2026 (GLOBE NEWSWIRE) -- Prime Medicine, Inc. (Nasdaq: PRME), a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, today announced a positive, binding resolution of its previously disclosed arbitration with Beam Therapeutics, Inc. relating to the parties' 2019 Collaboration and License Agreement (Agreement). The Tribunal declared that PM647, Prime Medicine's investigational Prime Editing drug for Alpha-1 Antitrypsin Deficiency (AATD), is within Prime Medicine's "Field" as defined by the Agreement, and that Prime Medicine therefore did not breach the Agreement. Prime Medicine owes no monetary damages to Beam Therapeutics. PM647 leverages Prime Medicine's universal liver lipid nanoparticle (LNP) to correct the E342K (Pi*Z) mutation in the SERPINA1 gene, the most prevalent disease-causing mutation in AATD. In fully humanized mouse models, treatment with PM647 achieved high levels of editing efficiency and restored the corrected protein isoform (M-AAT) into the healthy human range at clinically relevant doses. Prime Medicine plans to submit an investigational new drug (IND) and/or clinical trial application (CTA) filing for PM647 in the third quarter of 2026, with initial clinical data expected in 2027. "Our goal has always been to leverage the Prime Platform to develop differentiated medicines for patients. We believe Prime Editing is the optimal approach to correcting the genetic cause of AATD by restoring normal protein function," said Allan Reine, M.D., Chief Executive Officer of Prime Medicine. "We are pleased with the Tribunal's decision, which paves the way for PM647 to advance into the clinic and positions us to fully realize PM647's potential for patients. With PM577a for Wilson Disease now cleared to enter the clinic and PM647 approaching an IND and/or CTA filing, we are focused on bringing potentially curative therapies to patients with two of the largest genetic liver diseases." About AATD AATD is a progressive, genetic disorder caused by mutations in the SERPINA1 gene that can result in both lung- and liver-related disease, including shortness of breath, chronic cough, jaundice, ascites and cirrhosis. There are currently no disease-modifying or curative treatments approved for the approximately 200,000 people across the United States and European Union with AATD, and many patients ultimately progress to liver failure or severe lung disease.

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