Precision BioSciences Says Gilead Ends Hepatitis B Collaboration
July 06 2020 - 8:23AM
Dow Jones News
By Colin Kellaher
Precision BioSciences Inc. on Monday said Gilead Sciences Inc.
is terminating a 2018 collaboration and license agreement,
effective Sept. 4.
The Durham, N.C., clinical-stage biotechnology company said it
will regain full rights and all data it generated for the in-vivo
chronic hepatitis B virus program developed under the
agreement.
Precision and Gilead in 2018 had agreed to develop
genome-editing tools using Precision's proprietary Arcus platform
to target viral DNA associated with hepatitis B. Under the
agreement, Precision was entitled to receive up to about $40
million in research funding over an initial three-year term and
milestone payments of up to $445 million.
Precision said it doesn't anticipate any changes to its cash
runway as a result of the termination, adding that its $154.2
million of cash and cash equivalents at the end of the first
quarter is sufficient to fund its operations into the second half
of 2021.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 06, 2020 08:08 ET (12:08 GMT)
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