Precision BioSciences in non-exclusive patent license deal with Caribou

Precision BioSciences announced that it had granted Caribou Biosciences (CRBU) a CRISPR genome-editing cell therapy company, a non-exclusive, worldwide license, with the right to sublicense, to one of Precision’s foundational cell therapy patent families for use with CRISPR in the field of human therapeutics. The licensed patents and applications relate to Precision’s approach for targeted insertion of a sequence encoding an exogenous antigen binding receptor into the T cell receptor alpha constant TRAC gene locus of human T cells via a single gene edit. This approach is proprietary to Precision and results in T cells suitable for allogeneic use. The licensed family, which includes more than 20 granted U.S. and international patents, expires in October 2036. Under the terms of the agreement, Precision will receive an upfront payment and, upon commercialization by Caribou, royalties on net sales of licensed products. In addition, for each occurrence of certain strategic transactions involving Caribou, Precision is eligible to receive a specific tiered milestone payment. This patent family is potentially also available for non-exclusive license to other high-quality partners in the cell therapy space.