Beam Announces Agreement for Lilly to Acquire Beam’s Opt-In Rights to Verve Therapeutics’ Base Editing Programs for Cardiovascular Disease
31 Octubre 2023 - 4:00AM
Beam Therapeutics Inc. (Nasdaq: BEAM), a biotechnology company
developing precision genetic medicines through base editing, today
announced that Eli Lilly and Company (Lilly) has agreed to acquire
certain rights under Beam’s amended collaboration and license
agreement with Verve Therapeutics, Inc. (Verve), including Beam’s
opt-in rights to co-develop and co-commercialize Verve’s base
editing programs for cardiovascular disease, which includes
programs targeting PCSK9, ANGPTL3 and an undisclosed
liver-mediated, cardiovascular target.
Under the terms of the agreement, Beam will receive a $200
million upfront payment and $50 million equity investment. Beam is
also eligible to receive up to $350 million in potential future
development-stage payments upon the completion of certain clinical,
regulatory and alliance events for a total of up to $600 million in
potential total deal consideration.
“As the pioneers in base editing, we’ve had a long-standing
vision of enabling a wide range of disease-modifying therapies
based on precision genome editing. Our strategy to achieve this has
been to advance a diversified portfolio of wholly owned programs,
continue to innovate in our platform, and establish creative
partnerships that expand the reach of base editing and drive both
near- and long-term value creation. Our initial collaboration with
Verve and this new transaction with Lilly are exemplary of our
execution of that strategy,” said John Evans, chief executive
officer of Beam. “This deal provides meaningful upfront capital to
advance our portfolio of clinical- and research-stage programs,
with significant additional value achievable as the Verve programs
advance through development. In parallel, it provides Verve with a
world-class partner for the long term, given Lilly’s deep expertise
and resources in the cardiovascular space. We are excited to see
the broad therapeutic potential of base editing fully realized
through our pipeline and through the programs enabled by our past
and future collaborations.”
“Base editing represents a potentially important new therapeutic
approach for a wide range of diseases,” said Ruth Gimeno, Ph.D.,
group vice president, diabetes, obesity and cardiometabolic
research at Lilly. “This agreement expands the scope of Lilly’s
ongoing relationship with Verve and gives us exposure to the full
breadth of potential with Beam’s base editing platform. We believe
that single-course gene editing treatments could be a compelling
new therapeutic option for patients at risk of cardiovascular
disease, and we look forward to working with Verve toward that
goal.”
About Beam TherapeuticsBeam Therapeutics
(Nasdaq: BEAM) is a biotechnology company committed to establishing
the leading, fully integrated platform for precision genetic
medicines. To achieve this vision, Beam has assembled a platform
that includes a suite of gene editing and delivery technologies and
is in the process of building internal manufacturing capabilities.
Beam’s suite of gene editing technologies is anchored by base
editing, a proprietary technology that is designed to enable
precise, predictable and efficient single base changes, at targeted
genomic sequences, without making double-stranded breaks in the
DNA. This has the potential to enable a wide range of potential
therapeutic editing strategies that Beam is using to advance a
diversified portfolio of base editing programs. Beam is a
values-driven organization committed to its people, cutting-edge
science, and a vision of providing life-long cures to patients
suffering from serious diseases.
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned not to place undue
reliance on these forward-looking statements, including, but not
limited to, statements related to: any future payments Beam may
receive under its agreement with Lilly; Beam’s expectations
regarding its cash runway; Beam’s efforts to advance a broad
portfolio of base editing programs; and the therapeutic
applications and potential of Beam’s technology, including Beam’s
ability to develop life-long, curative, precision genetic medicines
for patients through base editing. Each forward-looking statement
is subject to important risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in such statement, including, without limitation, risks and
uncertainties related to: Beam’s ability to develop, obtain
regulatory approval for, and commercialize its product candidates,
which may take longer or cost more than planned; whether Beam’s
cash resources will be sufficient to fund its foreseeable and
unforeseeable operating expenses and capital expenditure
requirements on the company’s expected timeline; Beam’s ability to
raise additional funding, which may not be available; Beam’s
ability to obtain, maintain and enforce patent and other
intellectual property protection for our product candidates; the
potential impact of pandemics and other health emergencies,
including their impact on the global supply chain; the uncertainty
that Beam’s product candidates will receive regulatory approval
necessary to initiate human clinical studies; that preclinical
testing of Beam’s product candidates and preliminary or interim
data from preclinical studies and clinical trials may not be
predictive of the results or success of ongoing or later clinical
trials; that initiation and enrollment of, and anticipated timing
to advance, Beam’s clinical trials may take longer than expected;
that Beam’s product candidates may experience manufacturing or
supply interruptions or failures; risks related to competitive
products; and the other risks and uncertainties identified under
the headings “Risk Factors Summary” and “Risk Factors” in Beam’s
Annual Report on Form 10-K for the year ended December 31, 2022,
our Quarterly Report on Form 10-Q for the quarter ended June 30,
2023, and in any subsequent filings with the Securities and
Exchange Commission. These forward-looking statements speak only as
of the date of this press release. Factors or events that could
cause our actual results to differ may emerge from time to time,
and it is not possible for us to predict all of them. We undertake
no obligation to update any forward-looking statement, whether as a
result of new information, future developments or otherwise, except
as may be required by applicable law.
Contacts:
Investors:Holly ManningTHRUST Strategic
Communicationsholly@thrustsc.com
Media:Dan Budwick1ABdan@1abmedia.com
Beam Therapeutics (NASDAQ:BEAM)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Beam Therapeutics (NASDAQ:BEAM)
Gráfica de Acción Histórica
De May 2023 a May 2024