Beam Therapeutics enters license collaboration with Orbital; will consolidate it financially

Beam Therapeutics Inc.

Beam receives 75M shares of Orbital common stock; expects to consolidate Orbital under ASC 810.
Cross-licenses for non-viral delivery and RNA design; exclusive fields for each party run three years.
Beam's Giuseppe Ciaramella becomes Orbital interim CEO; other Beam executives take interim leadership roles.
Three Beam directors (Burow, Evans, Maraganore) join Orbital board; ARCH Venture Partners holds Orbital stock.

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