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How will Prime Medicine stock perform by the end of 2024 following the Bristol Myers Squibb partnership announcement?
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Story
Prime Medicine ($PRME) Partners with Bristol Myers Squibb ($BMY) in $3.5B Deal
Sep 30, 2024, 11:05 AM
Prime Medicine ($PRME) has announced a strategic research collaboration and license agreement with Bristol Myers Squibb ($BMY) to develop and commercialize multiple Prime Edited Ex Vivo T-Cell therapies. Under the terms of the agreement, Prime Medicine will receive $110 million upfront and could potentially earn more than $3.5 billion in milestone payments. This partnership aims to advance Prime Medicine's proprietary pipeline, which has been strategically focused to ensure a cash runway into the first half of 2026. The collaboration marks a significant step for Prime Medicine, founded by David Liu, as it navigates the complexities of translating scientific breakthroughs into treatments.
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