Prime Medicine soars as it inks research collab with BMS

Cambridge, USA-based Prime Medicine (Nasdaq: PRME) saw its shares rocket more than 38% to $4.78 today, as it revealed a strategic research collaboration and license agreement with Bristol Myers Squibb (NYSE: BMY) to develop reagents for the next generation of ex vivo T-cell therapies.

Under the terms of the accord, Prime Medicine will design optimized Prime Editor reagents for a select number of targets, including reagents that use its Prime Assisted Site-Specific Integrase Gene Editing (PASSIGE) technology.

Bristol Myers Squibb will be responsible for development, manufacturing and commercialization of the next generation cell therapies, with support from Prime Medicine in gene editing strategy and reagent development.