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Scribe Therapeutics is partnering with the Eli Lilly unit (New York Stock Exchange: LLYTherapeutics prevail and grant rights to CRISPR X-Editing (XE) technologies to develop in vivo treatments for neuromuscular diseases.
Under the agreement, Scribe of Alameda, California, will receive $75 million consisting of an upfront payment and equity investment in the form of convertible notes, and is eligible to receive more than $1.5 billion in development and commercial payments.
In addition, Prevail will pay research funding and royalties on future sales.
According to the company, privately held Scribe is also eligible to co-finance and share profits in the United States in a single collaboration program.
Scribe said its CRISPR-by-design approach is the first of its kind and applies comprehensive engineering to transform bacterial immune systems into therapeutically relevant genome-editing technologies. The company’s in vivo genome editing tools modify genes directly in the body, offering benefits in safety, efficacy, and delivery compared to current methods.
“With the compelling in vivo proof-of-principle data we generated in multiple disease regions, Scribe validated our X-Editing technologies for industry-leading editing activity, specificity, and deliverability,” said Benjamin Oakes, CEO of Scribe.
Scribe already has a collaboration with Biogen (Nasdaq: BIIB) to develop CRISPR-based therapies for amyotrophic lateral sclerosis (ALS).