Smith Anderson Team Advises Precision BioSciences in Deal Valued At Up To $1.6 Billion
Smith Anderson acted as lead counsel to genome editing company Precision BioSciences in a worldwide immuno-oncology partnership worth up to $1.6 billion, including a $105 million upfront payment to Precision. The collaboration with global biopharmaceutical company Baxalta Incorporated will utilize Precision’s genome editing expertise and technology to potentially transform the treatment of multiple cancers through the development of allogeneic chimeric antigen receptor (CAR) T cell therapies.
The team was led by Life Sciences partners John Therien and Jason Brege and included Mike Saber, Dan Rowe, Mary Pat Sullivan, Dave Clement, Joey Morris, Chris Capel and others.
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About Precision BioSciences
Precision BioSciences, the genome editing company, is dedicated to improving life. Our team seeks to solve significant problems in oncology, genetic disease, agriculture, and beyond via its ARCUS genome editing platform. ARCUS is Precision’s proprietary, nuclease-based genome editing platform which now encompasses an industry leading combination of site specificity, ease of delivery, and breadth of editing capabilities.
Baxalta Incorporated (NYSE: BXLT) is a $6 billion global biopharmaceutical leader developing, manufacturing and commercializing therapies for orphan diseases and underserved conditions in hematology, oncology and immunology. Driven by passion to make a meaningful impact on patients’ lives, Baxalta’s broad and diverse pipeline includes biologics with novel mechanisms and advanced technology platforms such as gene therapy. The Baxalta Global Innovation and R&D Center is located in Cambridge, Massachusetts. Launched in 2015 following separation from Baxter International Inc, Baxalta’s heritage in biopharmaceuticals spans decades. Baxalta’s therapies are available in more than 100 countries and it has advanced biological manufacturing operations across 12 facilities, including state-of-the-art recombinant production and plasma fractionation. Headquartered in Northern Illinois, Baxalta employs 16,000 employees worldwide.