Prime Medicine Inc. (NASDAQ:PRME) said it secured a favorable, binding arbitration ruling in its dispute with Beam Therapeutics Inc. (NASDAQ:BEAM).
The tribunal on Wednesday determined that Prime Medicine’s investigational gene-editing therapy PM647 falls within the scope of the companies’ 2019 Collaboration and License Agreement.
The decision clears the company of any breach of contract claims and eliminates any financial liability related to the case.
Tribunal Rules PM647 Falls Within Prime Medicine’s Licensed Field
According to Prime Medicine, the arbitration tribunal concluded that PM647 is covered under the company’s defined “Field” in the 2019 agreement with Beam Therapeutics.
As a result, the tribunal found that Prime Medicine did not violate the terms of the agreement.
The company added that the ruling also determined it owes no monetary damages to Beam Therapeutics, bringing the previously disclosed arbitration to a close.
PM647 Targets Most Common Cause of Alpha-1 Antitrypsin Deficiency
PM647 is Prime Medicine’s investigational Prime Editing therapy for Alpha-1 Antitrypsin Deficiency (AATD).
The therapy uses the company’s universal liver lipid nanoparticle (LNP) delivery platform to correct the E342K (Pi*Z) mutation in the SERPINA1 gene, which the company said is the most common disease-causing mutation associated with AATD.
Prime Medicine said that in fully humanized mouse models, PM647 achieved high editing efficiency while restoring the corrected M-AAT protein isoform to healthy human levels at clinically relevant doses.
Clinical Development Timeline Remains On Track
Following the arbitration outcome, Prime Medicine said it remains on schedule to advance PM647 into the clinic.
The company plans to submit an investigational new drug application and/or a clinical trial application for PM647 during the third quarter of 2026.
If those filings proceed as planned, Prime Medicine expects to report initial clinical data from the program in 2027.
PRME Price Action: Prime Medicine shares were up 13.16% at $4.51 at the time of publication on Wednesday, according to Benzinga Pro data.
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