Precision BioSciences (DTIL) has issued an announcement.
Precision BioSciences, Inc. has been notified by Prevail Therapeutics, a subsidiary of Eli Lilly and Company, about the termination of a collaboration agreement aimed at developing gene-editing therapies. This termination, effective July 10, 2024, concludes a partnership that could have netted Precision up to $395 million per product in milestone payments, plus royalties on sales. Despite this setback, Precision retains the option to resume control over the program’s development and is considering new opportunities to advance these therapies. The original agreement involved Precision’s proprietary ARCUS nuclease technology targeting genetic disorders like Duchenne muscular dystrophy and other conditions.
Learn more about DTIL stock on TipRanks’ Stock Analysis page.
