Prime Medicine, Inc. announced that the Cystic Fibrosis Foundation (CFF) has committed up to an additional $24 million in funding to accelerate the development of Prime Editors for cystic fibrosis (CF)-related lung disease. This expanded funding builds upon an initial agreement from January 2024, underscoring the CFF's confidence in Prime Editing as a potentially curative approach for CF. The company plans to leverage its technology's versatility to address multiple disease-causing mutations.
The initial focus of this additional funding will be on a program targeting the G542X mutation, which is one of the most prevalent CF-causing nonsense mutations and currently lacks available therapies. Prime Medicine will also continue advancing hotspot and PASSIGE-based approaches for other CF mutations, utilizing funds from its initial 2024 commitment. This strategic funding supports the company's efforts to develop a one-time, potentially curative treatment for CF.
The $24 million in additional funding will be provided in two tranches, contingent on certain closing conditions and scientific milestones. The first tranche includes a $6 million equity investment in Prime Medicine. This capital infusion strengthens the company's financial resources and supports the continued advancement of a key pipeline program.
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