Precision BioSciences Strikes $17.5M Gene Editing Deal with TG Therapeutics, Eyeing $288M in Future Milestones
Portfolio Pulse from Benzinga Newsdesk
Precision BioSciences, Inc. (DTIL) has completed a strategic transaction with TG Therapeutics, Inc. (TGTX), granting TGTX an exclusive license to develop Azercabtagene Zapreleucel (azer-cel) for autoimmune diseases. The deal includes an upfront payment and potential near-term economics valued at $17.5 million, with Precision eligible for up to $288 million in future milestones and royalties on net sales. TGTX will also make an equity investment in Precision by purchasing shares at a 100% premium to the 30-day VWAP.
January 09, 2024 | 12:05 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Precision BioSciences has entered into a lucrative partnership with TG Therapeutics, including an upfront payment, equity investment, and potential future milestones that could total $288 million, plus royalties.
The deal provides immediate financial benefits to Precision BioSciences and opens up a significant revenue stream through future milestones and royalties. The equity investment at a premium is a strong vote of confidence in DTIL's technology and prospects.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
TG Therapeutics has acquired exclusive rights to develop azer-cel for autoimmune diseases from Precision BioSciences, with an initial investment and potential for future milestone payments.
TG Therapeutics' investment in Precision BioSciences' azer-cel represents a strategic expansion into autoimmune disease treatments. The deal could enhance TGTX's product pipeline and future revenue potential.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80