Precision BioSciences Inks Strategic Collaboration with Gilead Sciences Valued at Up to $445 Million
Smith Anderson client Precision BioSciences and Gilead Sciences signed a comprehensive worldwide development and commercialization agreement to develop therapies targeting the in vivo elimination of hepatitis B virus (HBV) with Precision’s proprietary genome editing platform, ARCUS.
Precision is a genome editing company dedicated to improving life by curing genetic disease, overcoming cancer and feeding the planet using ARCUS. Gilead (Nasdaq: GILD) is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in areas of unmet medical need.
According to the press release, under the terms of the agreement Precision will be primarily responsible for preclinical research and development, and Gilead will be responsible for clinical development and commercialization of potential therapies. Gilead will fully fund the research and development. Precision is eligible to receive milestone payments of up to an aggregate of $445 million and tiered royalties for commercial products developed through the collaboration.
Smith Anderson advised Precision on this agreement, as well as on all of Precision’s important commercial collaborations, including its $1.6 billion worldwide immuno-oncology partnership agreement with Shire Plc, which won a Deals of Distinction Award™ at the 2016 Licensing Executives Society Annual Meeting. Precision has also engaged Smith Anderson as counsel on its preferred stock financings which have raised a total of $135 million through Series B.
To read the press release issued by Precision, please click here.