Editas Medicine Achieves Milestone Under Juno Therapeutics Collaboration for Technical Progress Towards Overcoming the Tumor ...
August 09 2017 - 4:01PM
Editas Medicine, Inc. (NASDAQ:EDIT), a leading genome editing
company, announced today that it achieved a second milestone under
its collaboration with Juno Therapeutics, Inc. (NASDAQ:JUNO). The
most recent milestone results from the Company’s technical progress
towards overcoming the tumor microenvironment in a research program
to create engineered T cells with chimeric antigen receptors (CAR)
and T cell receptors (TCR) to treat cancer. Improving the ability
of T cells to overcome the tumor microenvironment may expand the
range of cancers that may be addressed by engineered T cells.
Editas Medicine will receive $2.5 million for achieving this
milestone. The Company previously announced it achieved a milestone
for technical progress towards improving T cell persistence.
Editas Medicine and Juno Therapeutics are pursuing three
research programs combining Editas Medicine’s genome editing
platform with Juno’s CAR and TCR technologies. Under the terms of
the collaboration announced in May 2015, Editas Medicine is
eligible to receive research, regulatory, and commercial sales
milestones of approximately $700 million in the aggregate for the
first product candidates from the three programs and additional
research and regulatory milestones for subsequent products.
Following the approval of any products resulting from the
collaboration, Editas Medicine is also eligible to receive tiered
royalties on net sales. Editas Medicine previously received an
upfront payment of $25 million from Juno and is eligible to receive
research support from Juno of up to $22 million over the five year
period of the collaboration.
About Editas MedicineEditas Medicine is a
leading genome editing company dedicated to treating patients with
genetically-defined diseases by correcting their disease-causing
genes. The Company was founded by world leaders in genome editing,
and its mission is to translate the promise of genome editing
science into a broad class of transformative genomic medicines to
benefit the greatest number of patients.
Contacts:
Media
Cristi Barnett
(617) 401-0113
cristi.barnett@editasmed.com
Investors
Mark Mullikin
(617) 401-9083
mark.mullikin@editasmed.com
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