Precision BioSciences Inc (Nasdaq: DTIL), an advanced gene editing company, announced on Tuesday that it has entered a non-exclusive, worldwide patent license agreement with Caribou Biosciences, a CRISPR genome-editing cell therapy company.

Caribou gains rights to Precision's foundational cell therapy patent family, focusing on targeted insertion of an exogenous antigen binding receptor into the T cell receptor alpha constant (TRAC) gene locus of human T cells through a single gene edit. This approach results in T cells suitable for allogeneic use. The licensed family, boasting 20+ U.S. and international patents, will be available until October 2036.

In exchange, Precision receives an upfront payment and, upon Caribou's commercialisation, royalties on net sales of licensed products. Additionally, specific tiered milestone payments are triggered for certain strategic transactions involving Caribou. Precision may extend this patent family for non-exclusive licensing to other high-quality partners in the cell therapy space.

With its novel ARCUS genome editing platform, Precision BioSciences stands out in gene editing technology due to its unique cutting approach, smaller size and simpler structure. ARCUS nucleases offer distinctive capabilities, aiming to drive more intended therapeutic outcomes. Precision's pipeline, utilising ARCUS, focuses on in vivo gene editing candidates designed for lasting cures across a broad spectrum of genetic and infectious diseases where adequate treatments are lacking.