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Bristol Myers Squibb and Prime Medicine Sign $3.5 Billion Deal to Develop Ex Vivo T Cell Therapies

NextEdge Admin

02 Oct 2024

2 min 7 sec

Bristol Myers Squibb (BMS) has entered a research and licensing agreement with Prime Medicine to develop ex vivo T cell therapies using Prime's proprietary PASSIGE technology. Announced on 30 September, Prime will design gene editing reagents while BMS focuses on developing the therapies. As part of the deal, Prime Medicine will receive $55 million upfront and a $55 million equity investment from BMS, with the potential to earn over $3.5 billion in milestone payments. These include $1.4 billion for developmental milestones and over $2.1 billion for commercialization, alongside royalties on future sales.

Prime’s PASSIGE platform utilizes prime editing combined with integrase to enable precise gene modification without viral components or DNA breaks, reducing the risk of off-target edits. Prime’s lead candidate, PM-359, is in a Phase I/II trial for chronic granulomatous disease (CGD) and has received orphan drug designation and an investigational new drug (IND) application approval from the FDA in 2024.

Preclinical data revealed that PM-359 corrected CGD mutations in over 75% of patients’ CD34-positive cells without off-target effects. Prime Medicine, launched in 2021, saw its stock rise by 22% following the deal announcement. The company also outlined its pipeline, focusing on a treatment for Wilson’s disease, with clinical trials expected in 2026 and data from the PM-359 trial anticipated in 2025.