Editas Medicine inks out-licensing deal with Shoreline

Cambridge, USA-based genome editing company Editas Medicine (Nasdaq: EDIT) has entered into a definitive agreement with US biotech Shoreline Biosciences (Shoreline) to license Editas Medicine’s proprietary SLEEK (SeLection by Essential-gene Exon Knock-in) and AsCas12a gene editing technologies and acquire Editas Medicine’s pre-clinical gene edited induced pluripotent stem cell (iPSC) derived natural killer cell (iNK) programs and related manufacturing technologies.

Under the terms of the agreement, Shoreline will obtain an exclusive license to Editas Medicine’s interest in SLEEK gene editing knock-in technology for use in Shoreline’s iNK platform and for oncology in its iMACs platform, and on a non-exclusive basis for iMACs in other indications. Shoreline will also receive a non-exclusive license for the use of Editas Medicine’s engineered AsCas12a enzyme. Editas’ shares fell nearly 5% to $7.86 following the announcement.

Editas put the programs up for sale, along with announcing a strategic restructuring. The company’s R&D efforts will narrow, focusing on hemoglobinopathies and in vivo discovery, as Editas Medicine will pursue and develop programs it believes have maximum probabilities of technical, regulatory, and commercial success. As a result of the strategic reprioritization, Editas Medicine’s headcount is being reduced by arounnd 20%, which is expected to extend the company’s cash runway into 2025.