– 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
– Precision to Develop a Single ARCUS® Nuclease Designed for Safe and Efficient In Vivo Gene Insertion
– Collaboration Combines Precision’s Proprietary ARCUS Genome Editing Platform and Gene Insertion Capabilities with Novartis’ Drug Discovery and Gene Therapy Expertise
– Extends Precision’s Cash Runway into Q2 2024
– Precision to Host Conference Call Tomorrow, June 22, 2022, at 8:00 AM ET
DURHAM, N.C.–(BUSINESS WIRE)– Precision 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.
