Prime Medicine, Bristol Myers Squibb
Prime Medicine Inks Cell Therapy Pact With Bristol Myers Squibb Worth Over $3.5B, Streamlines Pipeline
On Monday, Prime Medicine Inc. (NASDAQ:PRME) announced a strategic research collaboration and license agreement with Bristol Myers Squibb & Co (NYSE:BMY) to develop reagents for the next generation of ex vivo T-cell therapies.
Prime Medicine Shares Rally on Partnership With Bristol Myers Squibb
Prime Medicine said it will receive a $55 million upfront payment and a $55 million investment from Bristol Myers Squibb. It will is also eligible to receive more than $3.5 billion in milestones, including up to $1.4 billion in development milestones and more than $2.1 billion in commercialization milestones, along with royalties on net sales.
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Bristol Myers Squibb is paying Prime Medicine $110 million upfront to develop reagents for ex vivo T-cell therapies. Prime, ...
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