US genetic medicines company Scribe Therpeutics, which is seeking to unlock the potential of CRISPR to transform human health, announced the achievement of a success milestone for one of the targets in its research collaboration with French pharma major Sanofi (Euronext: SAN) to develop in vivo CRISPR-based therapeutics.
As a result, Scribe is eligible to receive over $1.2 billion across all programs in milestone payments for the achievement of certain research, development, regulatory and commercial milestones, as well as high-single-digit to mid-teen royalties.
“We are excited about the progress we have made towards creating potentially curative in vivo genetic medicines with a partner like Sanofi,” said Benjamin Oakes, co-founder and chief executive of Scribe. “The complementary expertise of our teams has enabled the program to move quickly and attain early validation of our CRISPR genome editing technologies. We look forward to further advancement of this program with a direct line of sight towards bringing breakthrough CRISPR-based therapeutics to patients with significant unmet need,” he added.
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