Prime Medicine Forms Groundbreaking Alliance With Bristol Myers Squibb For Next-gen Cell Therapies
$PRME
Prime Medicine, Inc. (Nasdaq: PRME) has made a significant leap in the field of cell therapy by partnering with Bristol Myers Squibb (NYSE: BMY) through a strategic research collaboration and license agreement. This alliance aims to combine Prime Medicine’s advanced gene editing technology with Bristol Myers Squibb’s extensive expertise in developing and commercializing innovative cell therapies. Under this agreement, Prime Medicine will receive an upfront payment of $110 million, with potential additional milestone payments exceeding $3.5 billion.
The partnership will focus on creating optimized Prime Editor reagents for specific targets using Prime Medicine’s proprietary Prime Assisted Site-Specific Integrase Gene Editing (PASSIGE™) technology. Keith Gottesdiener, M.D., President and CEO of Prime Medicine, expressed excitement about the collaboration, emphasizing the transformative potential of PASSIGE technology in cell therapy. This innovative approach merges Prime Editing with site-specific recombinase, enabling the introduction of large gene-sized cargo into the genome while reducing the risks of double-stranded DNA breaks and off-target edits.
Teri Foy, Senior Vice President of Cancer Immunology and Cell Therapy Therapeutic Research Center at Bristol Myers Squibb, noted the collaboration’s potential to integrate Prime Medicine’s cutting-edge technologies with Bristol Myers Squibb’s capabilities. This synergy is expected to drive innovation and expand treatment options in immunology and oncology. By targeting diseases with well-understood biology and clear paths for clinical development, Prime Medicine aims to lay the groundwork for exploring additional therapeutic areas, including genetic disorders, immunological diseases, cancers, and infectious diseases.
Prime Medicine is dedicated to advancing gene editing therapies through its precise Prime Editing platform. This groundbreaking technology is designed to make accurate DNA edits while minimizing unintended modifications, allowing for the potential correction of nearly all types of genetic mutations across various tissues, organs, and cell types. As this partnership develops, it underscores the growing importance of gene editing technologies in creating curative therapies for a wide array of diseases, establishing a new standard in the biotechnology and pharmaceutical industries.
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