Editas Medicine Announced A Two-year Extension To The Alpha-Beta T Cell Collaboration With Bristol Myers Squibb; The Extension Also Has Options To Extend The Collaboration For Up To An Additional Two Years
Portfolio Pulse from Benzinga Newsdesk
Editas Medicine has extended its collaboration with Bristol Myers Squibb for two more years, focusing on alpha-beta T cell therapies. The partnership, which can be further extended by up to two years, has already seen Bristol Myers Squibb opt into 13 programs across 11 gene targets. Two of these programs are in IND-enabling studies, with four more in late-stage discovery. Editas may develop genome editing tools, with Bristol Myers Squibb having the option to use these tools for developing gene-edited therapies. Editas is eligible for milestone payments and royalties on net sales of any approved products.
May 01, 2024 | 12:09 pm
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POSITIVE IMPACT
Bristol Myers Squibb's continued collaboration with Editas Medicine enhances its pipeline in gene-edited alpha-beta T cell therapies, potentially strengthening its position in the biotech sector.
Bristol Myers Squibb's decision to extend the collaboration with Editas Medicine and opt into multiple programs demonstrates a strategic investment in gene-edited therapies, which could strengthen its biotech sector position. This move is likely to be viewed positively by investors, potentially leading to a short-term uptick in BMY's stock price due to the expanded pipeline and future commercialization prospects.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Editas Medicine's extension of its collaboration with Bristol Myers Squibb could lead to significant future milestone payments and royalties, enhancing its revenue prospects.
The extension of the collaboration with Bristol Myers Squibb is a positive development for Editas Medicine, indicating confidence in their gene editing tools and potential for significant financial benefits from milestone payments and royalties. This could positively impact EDIT's stock price in the short term as it reflects potential revenue growth and successful partnership.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90