Precision BioSells CAR T manufacturing to Imugene for $8M cash and $13M convertible notes

PRECISION BIOSCIENCES INC

Imugene acquired CAR T manufacturing infrastructure, including MCAT facility, for $8M cash and $13M in 1-year non-interest-bearing convertible notes.
Pro forma net loss for H1 2023 reduced from $37M to $22M, reflecting discontinued CAR T operations.
Precision granted Imugene exclusive license to develop/commercialize azer-cel and up to three additional CAR T candidates.
Pro forma balance sheet shows $146M cash; convertible note receivable of $12M at estimated fair value.
Transaction results in estimated $10M gain recorded in discontinued operations.

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