Shoreline Biosciences Acquires Editas' iNK Cell Franchise, Related Gene Editing Technologies - Editas Medicine (NASDAQ:EDIT)

Editas Medicine Inc EDIT has agreed to license its proprietary SLEEK (SeLection by Essential-gene Exon Knock-in) and AsCas12a gene editing technologies to Shoreline Biosciences.
Shoreline will also acquire Editas Medicine's preclinical gene-edited induced pluripotent stem cell (iPSC) derived natural killer cell (iNK) programs and manufacturing technologies.
Shoreline will pay Editas Medicine an undisclosed upfront payment at the close of the transaction. Editas Medicine is eligible to receive future development, commercial milestone, and royalty payments for each of the iNK programs and future programs engineered with the gene editing technologies.
Shoreline is a private biopharmaceutical company developing next-generation cellular immunotherapies based on iPSCs utilizing proprietary iNK and macrophage (iMACs) platforms.
As part of the transaction, Shoreline will acquire EDIT-202, Editas Medicine's preclinical multiplexed edited iNK cell medicine for the potential treatment of solid tumors, as well as an additional iNK program under development and certain related manufacturing technologies.
The acquisition is part of Editas Medicine's strategic portfolio reprioritization, focusing on developing in vivo gene-edited medicines.
Earlier this month, Editas Medicine announced a strategic update, including portfolio reprioritization and R&D realignment.
The company would focus on hemoglobinopathies and in vivo discovery. It would reduce its headcount by approximately 20%, which is expected to extend its cash runway into 2025.
The company would discontinue internal investments in inherited retinal diseases and preclinical wholly-owned iNK programs.
Price Action: EDIT shares are down 1.63% at $7.98 on the last check Thursday.

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