Beam Therapeutics, Bio Palette in license agreements for base editing technologies

May 31, 2019 Off By BusinessWire

Bio Palette licenses base editing intellectual property to Beam
Therapeutics for use in human therapeutics

Beam Therapeutics licenses base editing intellectual property to Bio
Palette for use in microbiome-related therapeutics in Asia

CAMBRIDGE, Mass. & KOBE CITY, Japan–(BUSINESS WIRE)–Beam Therapeutics and Bio Palette today announced an exclusive
cross-license agreement around each companies’ base editing intellectual
property.

Bio Palette, a Japanese biotechnology company, is developing new genome
editing technologies for use in various fields, including agriculture
and the microbiome. Bio Palette has licensed base editing intellectual
property from Kobe University, which was invented by Drs.
Keiji Nishida and Akihiko Kondo.

Beam Therapeutics, a U.S.-based biotechnology company, is developing
precision genetic medicines through base editing. Beam has licensed its
foundational base editing intellectual property from Harvard University,
the Broad Institute, MIT and Editas Medicine across multiple base
editing platforms.

Under the terms of its agreement with Beam, Bio Palette is granting Beam
an exclusive license to develop Bio Palette’s intellectual property in
the field of human therapeutics, with the exception of rights to
microbiome related therapeutics in Asia, which are retained by Bio
Palette. In addition, Beam is granting Bio Palette an exclusive license
to IP from its foundational license agreements to develop
microbiome-related therapeutics in Asia. In order to strengthen the
competitive position of both Parties, the Parties intend to work
together to leverage Bio Palette’s experience and expertise in Japan.
Bio Palette agrees to assist Beam in developing relationships in Japan,
and to advise on Beam’s business development strategy in Japan.

“We are very pleased to enter into this strategic cross-licensing
agreement with Bio Palette, with both parties benefiting in our
respective areas of base editing expertise. This agreement further
strengthens our leadership position in developing base editing for human
therapeutics, and will enable Beam to take advantage of Bio Palette’s
unique and valuable expertise in Japan,” said John Evans, CEO of Beam
Therapeutics.

“Base editing is an important potential therapeutic approach in the
microbiome. As we are both pioneers in base editing, Beam Therapeutics
is a natural partner for Bio Palette as we continue to enhance our focus
on the development of microbiome-based therapeutics, and to be a global
leader in this field,” said Prof. Akihiko Kondo, director of Bio Palette.

Financial terms of the agreement include an undisclosed upfront payment
to Bio Palette from Beam, an equity position in Beam by Bio Palette, and
royalties from sales of commercialized products by Beam or Bio Palette
to the other party.

About Beam Therapeutics

Beam Therapeutics is developing precision genetic medicines through base
editing. Founded by leading scientists in CRISPR gene editing, Beam is
pursuing therapies for serious diseases using its proprietary base
editing technology, which can make precise edits to single base pairs in
DNA and RNA. Beam is headquartered in Cambridge, Massachusetts. For
additional information, visit www.BeamTx.com.

About Bio Palette

Bio Palette was set up to commercialize its unique base editing
technologies licensed from Kobe University. Bio Palette is pursuing
business collaborations globally, focusing on the field of microbiome
therapeutics, agriculture, or microbes. Bio Palette is located in Kobe
City, Japan.