Baxalta, Precision BioSciences partner to develop CAR T therapies

Precision BioSciences’ ARCUS genome editing technology will be used to develop an allogeneic chimeric antigen receptor (CAR T) cell therapeutic pipeline directed towards areas of major unmet need in several cancers.

The companies will develop CAR T therapies for around six unique targets, with the initial program anticipated to enter clinical trials in late 2017.

Precision BioSciences will carry out early-stage research activities up to phase 2, after which Baxalta has the exclusive right to opt in for late-stage development and commercialization.

Baxalta will make an upfront payment of $105m apart from potential future milestone payments and royalties, totaling up to $1.6bn.

Precision has the right to participate in the development and commercialization of any licensed products emerging from the partnership via a 50/50 co-development and co-promotion option in the US.

Baxalta executive vice president and president of oncology David Meek said: "Combining Precision BioSciences’ ARCUS technology with Baxalta’s global infrastructure, expertise and growing immuno-oncology portfolio is a synergistic approach that we believe has the potential to make disruptive approaches available to people with a range of underserved cancers."

Last month, Irish drugmaker Shire has agreed to merge with Baxalta under a transaction worth about $32bn.

The transaction, which is expected to be completed in mid-2016, will create a global biotechnology firm focused on rare diseases.