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Editas Medicine, Inc. (Nasdaq: EDIT), a objective signifier genome editing company, contiguous announced a strategical update, including portfolio reprioritization and probe and improvement realignment. The Company’s R&D efforts volition narrow, focusing connected hemoglobinopathies and in vivo discovery, arsenic Editas Medicine volition prosecute and make programs it believes person maximum probabilities of technical, regulatory, and commercialized success. As a effect of the strategical reprioritization, Editas Medicine’s headcount is being reduced by astir 20%, which is expected to widen the Company’s currency runway into 2025.
Editas Medicine’s strategical changes include:
- Prioritizing assets allocation towards EDIT-301, the Company’s pb objective programme for the attraction of terrible sickle compartment illness and transfusion-dependent beta thalassemia.
- Discontinuing interior investments successful the Company’s inherited retinal illness (IRD) programs, including EDIT-101 for Leber Congenital Amaurosis 10 (LCA10) and EDIT-103 for rhodopsin-associated autosomal ascendant retinitis pigmentosa (RHO-adRP). Editas Medicine volition question partnerships for further improvement of its IRD programs.
- Discontinuing interior investments successful the Company’s wholly owned multiplexed edited induced pluripotent stem compartment (iPSC) derived earthy slayer (iNK) compartment programs, including EDIT-202 for coagulated tumors. Editas Medicine volition question a concern to proceed improvement of the Company’s iNK franchise.
- Restructuring the Company’s probe enactment into 2 divisions:
- Drug Discovery for in vivo people identification, therapeutic plus creation, and translational research.
- Advanced Technology for in vivo targeted integration and targeted delivery.
- Developing milder diligent preconditioning regimens for hematopoietic stem compartment (HSC) transplants.
- Developing adjacent procreation in vivo medicines, including successful vivo editing of HSCs and different tissues.
Editas Medicine volition proceed advancing its cellular therapy assets done partnerships, including continued improvement of alpha-beta T-cell medicines with Bristol-Myers-Squibb and gamma-delta T-cell medicines with Immatics N.V. The Company volition besides proceed assessing further collaboration opportunities to licence Editas Medicine’s intelligence spot and proprietary technology.
“I americium excited astir our caller strategical direction, and I powerfully judge that refocusing our concern astir hemoglobinopathies and in vivo cistron editing volition champion presumption the Company to prosecute our ngo to present revolutionary medicines for radical surviving with superior diseases,” said Gilmore O’Neill, M.B., M.M.Sc., President and Chief Executive Officer, Editas Medicine. “Though this includes making precise hard decisions, we judge much patients volition yet payment from our refined find and improvement efforts, our enhanced objective execution, and, astir importantly, from our quality to bring these transformative medicines to the market.”
In transportation with the reprioritization of Editas Medicine’s portfolio, Mark S. Shearman, Ph.D., Chief Scientific Officer astatine Editas Medicine, volition measurement down from his relation and depart the Company, effectual March 31, 2023. Editas Medicine has begun a hunt for a caller CSO with a beardown translational exertion inheritance for the find and improvement of caller in vivo medicines.
“We sincerely convey Mark for his enactment and publication to Editas during his clip astatine the Company,” commented Dr. O’Neill. “Mark’s enactment was integral successful driving guardant our programs, and we privation him good successful his aboriginal endeavors.”
Dr. O’Neill volition contiguous a firm overview and details connected this strategical update astatine the 41st Annual J.P. Morgan Healthcare Conference connected Tuesday, January 10, 2023, astatine 4:30 p.m. PT / 7:30 p.m. ET successful San Francisco, CA. A unrecorded webcast of the presumption volition beryllium disposable via the “Events & Presentations” leafage successful the Investors conception connected the Company’s website. The replay of the webcast volition beryllium archived connected the Company’s website for astir 30 days pursuing the conference.
About Editas MedicineAs a objective signifier genome editing company, Editas Medicine is focused connected translating the powerfulness and imaginable of the CRISPR/Cas9 and CRISPR/Cas12a genome editing systems into a robust pipeline of treatments for radical surviving with superior diseases astir the world. Editas Medicine aims to discover, develop, manufacture, and commercialize transformative, durable, precision genomic medicines for a wide people of diseases. Editas Medicine is the exclusive licensee of Broad Institute and Harvard University’s Cas9 patent estates and Broad Institute’s Cas12a patent property for quality medicines. For the latest accusation and technological presentations, delight sojourn www.editasmedicine.com.
Forward-Looking StatementsThis property merchandise contains forward-looking statements and accusation wrong the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "target," "should," "would," and akin expressions are intended to place forward-looking statements, though not each forward-looking statements incorporate these identifying words. Forward-looking statements successful this property merchandise see statements regarding the Company’s objective and merchandise improvement strategy, the therapeutic and marketplace imaginable of, and expectations for, the Company’s merchandise candidates, and the anticipated effects of the Company’s portfolio reprioritization and probe and improvement realignment and related workforce reduction, including the expected interaction connected its currency runway. The Company whitethorn not really execute the plans, intentions, oregon expectations disclosed successful these forward-looking statements, and you should not spot undue reliance connected these forward-looking statements. Actual results oregon events could disagree materially from the plans, intentions and expectations disclosed successful these forward-looking statements arsenic a effect of assorted important factors, including: uncertainties inherent successful the initiation and completion of preclinical studies and objective trials, and objective improvement of the Company’s merchandise candidates; availability and timing of results from preclinical studies and objective trials; whether interim results from a objective proceedings volition beryllium predictive of the last results of the proceedings oregon the results of aboriginal trials; expectations for regulatory approvals to behaviour trials oregon to marketplace products; and availability of backing capable for the Company’s foreseeable and unforeseeable operating expenses and superior expenditure requirements. These and different risks are described successful greater item nether the caption “Risk Factors” included successful the Company’s astir caller Annual Report connected Form 10-K, which is connected record with the Securities and Exchange Commission, arsenic updated by the Company’s consequent filings with the Securities and Exchange Commission, and successful different filings that the Company whitethorn marque with the Securities and Exchange Commission successful the future. Any forward-looking statements contained successful this property merchandise talk lone arsenic of the day hereof, and the Company expressly disclaims immoderate work to update immoderate forward-looking statements, whether due to the fact that of caller information, aboriginal events oregon otherwise.
Contacts:MediaCristi Barnett(617) 401-0113[email protected]
InvestorsRon Moldaver(617) 401-9052[email protected]
Source: Editas Medicine, Inc.
English (US)