Prime Medicine and Bristol Myers Squibb Partner on $3.5B T-Cell Therapy Deal with $110M Upfront

Sep 30, 2024, 11:17 AM

Prime Medicine has entered into a strategic research collaboration and license agreement with Bristol Myers Squibb to develop and commercialize multiple Prime Edited Ex Vivo T-Cell therapies. As part of the agreement, Prime Medicine will receive $110 million upfront, consisting of $55 million in cash and $55 million in equity. The deal also includes potential milestone payments exceeding $3.5 billion, with $1.4 billion allocated for development milestones and $2.1 billion for commercialization milestones and royalties. This partnership aims to leverage Prime Medicine's gene editing expertise and Bristol Myers Squibb's capabilities in cell therapy.