Prime Medicine has announced a significant strategic research collaboration and licensing agreement with Bristol Myers Squibb aimed at developing reagents for the next generation of ex vivo T-cell therapies. According to the terms of this agreement, Prime Medicine will create optimized Prime Editor reagents for several targeted applications, including those utilizing its Prime Assisted Site-Specific Integrase Gene Editing (PASSIGE™) technology. Bristol Myers Squibb will handle the development, manufacturing, and commercialization of these advanced cell therapies, while Prime Medicine will support gene editing strategies and reagent development.

“We are excited to collaborate with Bristol Myers Squibb, a global leader in cell therapy for hematology, immunology, and oncology. Through this effort, we will apply our Prime Editing technology beyond the rare genetic diseases in our internal pipeline, potentially unlocking opportunities in areas of high unmet needs in immunological diseases and cancer,” remarked Keith Gottesdiener, M.D., President and Chief Executive Officer of Prime Medicine. He added, “We are particularly excited that efforts under this collaboration will leverage our PASSIGE technology, which we believe will advance our one-step, non-viral, multi-kilobase-size gene editing approach into the clinic. There is tremendous opportunity for PASSIGE and Prime Editing to revolutionize the field of cell therapy, and we look forward to expanding our reach over time through both internal and partnered efforts.”

The PASSIGE technology from Prime Medicine merges Prime Editing with an integrase or other site-specific recombinase to facilitate the introduction of large gene-sized cargo into the genome, enabling stable expression of the cargo. This technology utilizes an entirely non-viral manufacturing process, avoiding the introduction of double-stranded DNA breaks or off-target edits, which may allow for more precise and effective genetic modifications.

“We are excited to enter this agreement with Prime Medicine as we continue to explore and invest in next-generation approaches, including gene editing technologies, that may help unlock the full potential of cell therapy,” stated Teri Foy, Senior Vice President of Cancer Immunology and Cell Therapy Therapeutic Research Center at Bristol Myers Squibb. She expressed optimism that “integrating Prime Medicine’s technologies with our internal capabilities has the potential to open new avenues for innovation and we look forward to collaborating with them as we continue to bring the promise of cell therapy to immunology and oncology.”

As part of the agreement, Prime Medicine will receive an upfront payment of $55 million and a $55 million equity investment from Bristol Myers Squibb. Additionally, Prime Medicine stands to gain over $3.5 billion in milestone payments, which include up to $1.4 billion for development milestones and more than $2.1 billion in commercialization milestones, along with royalties on net sales.