By Colin Kellaher

 

Pfizer Inc. and Beam Therapeutics Inc. on Monday said they formed an exclusive four-year research collaboration focused on in-vivo base editing programs for three targets aimed at rare genetic diseases of the liver, muscle and central nervous system.

As part of the collaboration, New York drugmaker Pfizer will make an upfront payment of $300 million to Beam, a Cambridge, Mass., biotechnology company.

The companies said Beam is also eligible for up to $1.05 billion in potential milestone payments, assuming Pfizer exercises its opt-in license rights for all three targets, along with royalties on product sales.

The companies said Beam will conduct all research activities through development candidate selection for three undisclosed targets that aren't included in Beam's existing programs, while Pfizer can opt in to exclusive, worldwide licenses to each candidate, after which it will be responsible for all development activities, as well as potential regulatory approvals and commercialization.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

January 10, 2022 06:33 ET (11:33 GMT)

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