STAT September 30, 2024
Hello! Today, we talk about how much dang money some CEOs still make, despite the slowdown in the biotech industry. We also see Dupixent approved for a huge new indication, and more.
Prime Medicine narrows targets, gets cash influx
The high-profile CRISPR editing company Prime Medicine is in a financial crunch, and is scaling back on once-ambitious plans. The company originally targeted 18 diseases, but now will focus on just three: chronic granulomatous disease, Wilson’s disease, and cystic fibrosis.
The company also announced a partnership with Bristol Myers Squibb that proffered $110 million upfront and could include up to $2.1 billion in potential milestone payments. That said, the company said it wants to circle back to its axed projects eventually.
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