Mayflower Bioventures Launches Primera Therapeutics as First Startup with Cellectis to Develop a Gene Editing Platform for Mitochondrial Diseases
- Primera to get the right to exercise an exclusive option globally for a license from Cellectis on up to five product candidates. Cellectis will be eligible to receive ~$750M in development and sales milestones for the partnership products, a 19% equity ownership stake in Primera along with royalties if Primera exercises its option
- Primera & Cellectis collaborated to edit mutations of the mtDNA & will co-developing an mtDNA engineering toolbox for effective therapies in mitochondrial diseases
- Primera is the first start-up to be launched by Mayflower (JV b/w Mayo Clinic, Hibiscus BioVentures & others) and aims to focus on developing gene therapies for mitochondrial diseases, for which there are currently no US FDA-approved treatment options are available
Ref: GLOBE NEWSWIRE | Image: Cellectis
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