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 (now part of Shire) 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.
The transaction was awarded the 2016 Life Science sector Deals of Distinction™ award by the Licensing Executives Society. Additionally, the Precision-Baxalta/Shire partnership is the seventh-largest value deal on the 2016 list of Top 15 Immuno-Oncology Collaborations published by Genetic Engineering & Biotechnology News.
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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.
Newly combined with Baxalta, Shire is the leading global biotechnology company focused on serving people with rare diseases and other highly specialized conditions. Shire develops best-in-class products, many of which are available in more than 100 countries, across core therapeutic areas including Hematology, Immunology, Neuroscience, Ophthalmics, Lysosomal Storage Disorders, Gastrointestinal / Internal Medicine / Endocrine and Hereditary Angioedema; and a growing franchise in Oncology. For more information, visit https://www.shire.com.