In a recent announcement, Beam Therapeutics Inc. revealed that Eli Lilly and Company (Lilly) will acquire certain rights from Beam’s collaboration and license agreement with Verve Therapeutics, Inc. This agreement includes Beam’s opt-in rights to co-develop and co-commercialize Verve’s base editing programs for cardiovascular disease, targeting PCSK9, ANGPTL3, and an undisclosed liver-mediated, cardiovascular target.
Under the terms of the agreement, Beam will receive an upfront payment of $200 million and a $50 million equity investment from Lilly. Additionally, Beam is eligible for up to $350 million in potential future development-stage payments, contingent on the completion of specific clinical, regulatory, and alliance milestones, resulting in a potential total deal consideration of up to $600 million.
Beam Therapeutics, a biotechnology company specializing in precision genetic medicines through base editing, views this collaboration as an opportunity to expand its portfolio of clinical and research-stage programs. Base editing is a proprietary technology that enables precise, predictable, and efficient single base changes in targeted genomic sequences, offering a potential therapeutic strategy for various diseases.
Lilly’s interest in this partnership is driven by the potential of single-course gene editing treatments for patients at risk of cardiovascular disease. The collaboration seeks to harness the full potential of Beam’s base editing platform and Verve’s cardiovascular disease programs to develop innovative therapeutic options.
This collaboration reflects Beam’s commitment to advancing genetic medicine and its goal of providing lifelong cures for serious diseases. However, investors should exercise caution, as the success of these endeavors depends on various factors, including regulatory approvals, clinical trial outcomes, and the availability of funding. Beam will continue to pursue its mission while closely monitoring potential risks and uncertainties associated with these developments.
https://www.fiercebiotech.com/biotech/beam-offloads-verve-rights-lilly-600m-and-more-deals-are-works
https://www.globenewswire.com/news-release/2023/10/31/2769940/0/en/Beam-Announces-Agreement-for-Lilly-to-Acquire-Beam-s-Opt-In-Rights-to-Verve-Therapeutics-Base-Editing-Programs-for-Cardiovascular-Disease.html
PackGene is a CRO & CDMO technology company that specializes in packaging recombinant adeno-associated virus (rAAV) vectors. Since its establishment in 2014, PackGene has been a leader in the AAV vector CRO service field, providing tens of thousands of custom batches of AAV samples to customers in over 20 countries. PackGene offers a one-stop CMC solution for the early development, pre-clinical development, clinical trials, and drug approval of rAAV vector drugs for cell and gene therapy (CGT) companies that is fast, cost-effective, high-quality, and scalable. Additionally, the company provides compliant services for the GMP-scale production of AAVs and plasmids for pharmaceutical companies, utilizing five technology platforms, including the π-Alpha 293 cell AAV high-yield platform and the π-Omega plasmid high-yield platform. PackGene's mission is to make gene therapy affordable and accelerate the launch of innovative gene drugs. The company aims to simplify the challenging aspects of gene therapy development and industrialization processes and provide stable, efficient, and economical rAAV Fast Services to accelerate gene and cell therapy development efforts from discovery phase to commercialization.
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