Editas Medicine Achieves Milestone under its Collaboration with Juno Therapeutics
CAMBRIDGE, Mass., May 04, 2016 (GLOBE NEWSWIRE) — Editas Medicine, Inc. (NASDAQ:EDIT), a leading genome editing company, announced today that it has achieved a $2.5 million milestone under its collaboration with Juno Therapeutics, Inc. (NASDAQ:JUNO) for technical progress in a research program to create engineered T cells with chimeric antigen receptors (CAR) and T cell receptors (TCR) to treat cancer. Editas and Juno are pursuing three research programs utilizing Editas’ genome editing technologies, including CRISPR/Cas9, with Juno’s CAR and TCR technologies. Under the terms of the collaboration announced in May 2015, Editas is eligible to receive research, regulatory, and commercial sales milestones of approximately $700 million in the aggregate for the first product candidates from the three programs, and additional, reduced research and regulatory milestones for subsequent products. Following the approval of any products resulting from the collaboration, Editas is also eligible to receive tiered royalties on net sales. Editas previously received an upfront payment of $25 million from Juno and is eligible to receive research support from Juno of up to $22 million over the five year period of the collaboration.
About Editas Medicine
Editas Medicine is a leading genome editing company dedicated to treating patients with genetically defined diseases by correcting their disease-causing genes. The Company was founded by world leaders in genome editing, and its mission is to translate the promise of genome editing science into a broad class of transformative genomic medicines to benefit the greatest number of patients.