Precision BioSciences loses Lilly/Prevail collaboration; regains DMD, PBGENE-LLY2, PBGENE-LLY3 programs

PRECISION BIOSCIENCES INC

Prevail (Lilly sub) terminated collaboration without cause effective July 10, 2024; Precision exercised reversion option to regain programs.
Collaboration had generated up to $135M upfront; potential milestones up to $390-395M per product plus royalties are now lost.
Preliminary Q1 2024 cash ~$137M; expected cash runway into H2 2026 unaffected (no Prevail milestones assumed).
Precision claims strong proof-of-concept data: up to 45% gene insertion in non-dividing cells in NHP; plans to develop programs independently or with new partners.
Near-term priorities (HBV, PMM, OTC partnership with iECURE) unchanged; IND/CTA submissions on track for 2024-2025.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

PRECISION BIOSCIENCES INC terminated Amended and Restated Development and License Agreement with Prevail Therapeutics Inc. valued at Termination without cause upon 90 days notice (effective 2024-04-11).

Action: termination
Agreement: license
Counterparty: Prevail Therapeutics Inc.
Value: Termination without cause upon 90 days notice
Effective: 2024-04-11

Exact text from the filing

On April 11, 2024, Precision BioSciences, Inc. (the “Company”) received written notice from Prevail Therapeutics Inc. (“Prevail”), a wholly-owned subsidiary of Eli Lilly and Company, of Prevail’s termination of the Amended and Restated Development and License Agreement, dated June 30, 2023, between Prevail and the Company (the “Agreement”).

View on SEC.gov

419 material agreements filed in the last 30 days. Browse all material agreements →

PRECISION BIOSCIENCES INC filing history →

Source: SEC EDGAR

accession 0000950170-24-044831

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.