Prime narrows gene editing focus with BMS deal

With its cash reserves dwindling, Prime Medicine has struck a deal with BMS to deploy its technology in ex vivo T cell therapies, padding its balance sheet as it narrows its pipeline to three key programs in rare diseases.

Prime Medicine Inc. (NASDAQ:PRME) will receive $110 million up front in Monday’s deal with Bristol Myers Squibb Co. (NYSE:BMY), with half coming as an equity investment. BMS will have rights to use Prime’s reagents, including some with its non-viral large cargo PASSIGE technology, in cell therapies across multiple therapeutic areas including oncology and immunology...