Official press releases from Prime Medicine or Bristol Myers Squibb, financial reports

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.