Beam Therapeutics inks deal with Pfizer worth up to $1.35B

Gene-editing firm Beam Therapeutics Inc. has signed a four-year deal worth up to $1.35 billion with pharmaceutical giant Pfizer Inc. Pfizer (NYSE: PFE) is paying Cambridge-based Beam (Nasdaq: BEAM) $300 million up front to develop gene therapies for three targets for rare diseases in the liver, muscle and central nervous system. Milestone payments to Beam could reach up to $1.05 billion. Pfizer will retain the options on exclu sive, global licenses for each development candidate; if it exercises…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news