Prime Medicine, Bristol Myers Squibb enter T-cell therapy pact potentially worth upward of $3.5 billion

Prime Medicine has partnered with Bristol Myers Squibb to develop ex vivo T-cell therapies. BMS will pay $55 million up front and invest another $55 million, but the partnership could be worth more than $3.5 billion in milestone payments and royalties. Prime, cofounded by David Liu of the Broad Institute of MIT and Harvard, specializes in search-and-replace gene editing; it launched in 2021 with $315 million in funding. The firm will be designing Prime Editor reagents with its PASSIGE (Prime assisted site-specific integrase gene editing) technology, which it says can introduce gene-sized sequences into a genome.