Goodwin’s Life Sciences team advised Prime Medicine on a strategic research collaboration and license agreement with Bristol Myers Squibb to develop reagents for the next generation of ex vivo T-cell therapies. Prime Medicine’s PASSIGE technology combines Prime Editing, a versatile, precise and efficient gene editing technology, with an integrase or other site-specific recombinase to introduce large gene-sized cargo into the genome for stable cargo expression. Bristol Myers Squibb will be responsible for development, manufacturing and commercialization of the next generation cell therapies, with support from Prime Medicine in gene editing strategy and reagent development. Prime Medicine will receive a $55 million upfront payment and a $55 million equity investment from Bristol Myers Squibb and is also eligible to receive more than $3.5 billion in milestones, including up to $1.4 billion in development milestones and more than $2.1 billion in commercialization milestones, along with royalties on net sales.
Prime Medicine is a leading biotechnology company dedicated to creating and delivering the next generation of gene editing therapies to patients and is deploying its proprietary Prime Editing platform, a versatile, precise and efficient gene editing technology, to develop a new class of differentiated one-time curative genetic therapies. Taken together, Prime Editing’s versatile gene editing capabilities could unlock opportunities across thousands of potential indications.
The Goodwin team was led by Shane Albright for the licensing transaction and Marishka DeToy for the equity investment and included Kingsley Taft, Elliot Horlick, Cindy Navarro, Karin Yoo, Haylee Brown and Dan Karelitz, with valuable assistance from John Yates and Madison Clausius.
For more information on the deal, please read the press release.