Precision BioSciences Completed Strategic Transaction with Imugene for Azer-Cel in Cancer; Precision Eligible to Receive up to $227M in Upfront Economics and Milestone Payments for Azer-Cel in Addition to Double-Digit Royalties on Sales
Portfolio Pulse from Charles Gross
Precision BioSciences (NASDAQ:DTIL) has completed a strategic transaction with Imugene Limited for global rights to Azercabtagene Zapreleucel (azer-cel), Precision's lead allogeneic CAR T candidate, for cancer. Imugene will assume ongoing clinical execution for azer-cel in the large B-cell lymphoma (LBCL) population. Precision is eligible to receive up to $227 million in upfront economics and milestone payments for azer-cel, in addition to double-digit royalties on sales.
August 15, 2023 | 11:50 pm
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Precision BioSciences has completed a strategic transaction with Imugene for azer-cel, a cancer treatment. The deal could bring Precision up to $227 million in payments and royalties.
The completion of the strategic transaction with Imugene for azer-cel, a cancer treatment, is a positive development for Precision BioSciences. The deal could bring significant revenues to Precision, which is likely to have a positive impact on its stock price in the short term.
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