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Editas Medicine announced that it has entered into a definitive agreement with Shoreline Biosciences for Shoreline to license Editas Medicine's proprietary SLEEK and AsCas12a gene editing technologies and acquire Editas Medicine's preclinical gene edited induced pluripotent stem cell derived natural killer cell programs and related manufacturing technologies. Shoreline Biosciences is a private biopharmaceutical company developing next-generation cellular immunotherapies based on iPSCs utilizing proprietary iNK and macrophage platforms. 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. As part of the transaction, Shoreline will acquire EDIT-202, Editas Medicine's preclinical multiplexed edited iNK cell medicine for the potential treatment of solid tumors, as well as an additional iNK program under development and certain related manufacturing technologies. The acquisition of the Company's wholly owned oncology assets by Shoreline is part of Editas Medicine's strategic portfolio reprioritization, including its focus on the development of in vivo gene edited medicines. Shoreline will pay Editas Medicine an upfront payment at the close of the transaction. Additionally, Editas Medicine is eligible to receive future development and commercial milestone and royalty payments for each of the iNK programs and for future programs engineered with the gene editing technologies. Evercore Group LLC served as financial advisor to Editas Medicine on the transaction.

Editas Medicine announced a strategic update, including portfolio reprioritization and research and development realignment. 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 approximately 20%, which is expected to extend the Company's cash runway into 2025. Editas Medicine's strategic changes include: Prioritizing resource allocation towards EDIT-301, the Company's lead clinical program for the treatment of severe sickle cell disease and transfusion-dependent beta thalassemia. Discontinuing internal investments in the Company's inherited retinal disease programs, including EDIT-101 for Leber Congenital Amaurosis 10 and EDIT-103 for rhodopsin-associated autosomal dominant retinitis pigmentosa. Editas Medicine will seek partnerships for further development of its IRD programs. Discontinuing internal investments in the Company's wholly owned multiplexed edited induced pluripotent stem cell derived natural killer cell programs, including EDIT-202 for solid tumors. Editas Medicine will seek a partnership to continue development of the Company's iNK franchise. Restructuring the Company's research organization into two divisions: Drug Discovery for in vivo target identification, therapeutic asset creation, and translational research. Advanced Technology for in vivo targeted integration and targeted delivery. Developing milder patient preconditioning regimens for hematopoietic stem cell transplants. Developing next generation in vivo medicines, including in vivo editing of HSCs and other tissues. Editas Medicine will continue advancing its cellular therapy assets through partnerships, including continued development of alpha-beta T-cell medicines with Bristol-Myers-Squibb and gamma-delta T-cell medicines with Immatics N.V. The Company will also continue assessing additional collaboration opportunities to license Editas Medicine's intellectual property and proprietary technology.