Prime Medicine and Myeloid Therapeutics Announce Settlement of Pending Disputes

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Jan 05, 2024, 17:00 ET

CAMBRIDGE, Mass., Jan. 5, 2024 /PRNewswire/ -- Prime Medicine, Inc. (Nasdaq: PRME) ("Prime Medicine") and Myeloid Therapeutics, Inc. ("Myeloid"), today announced resolution of all of their outstanding disputes, signaling an end to the pending arbitrations and a positive outcome for both parties.

"I am happy we have reached an amicable settlement with Myeloid. We believe resolving this dispute is in the best interest of our shareholders and allows each company to pursue its goals of developing differentiated, potentially curative therapies for patients," said Keith Gottesdiener, M.D., President and Chief Executive Officer of Prime Medicine.

Dr. Daniel Getts, Chief Executive Officer of Myeloid Therapeutics, commented, "Our collaboration with Prime Medicine has been characterized by mutual respect and a shared commitment to innovation. We believe the resolution of our current dispute will permit both companies to advance their scientific and commercial goals, with the ultimate aim of improving patient outcomes."

About Prime Medicine

Prime Medicine is a leading biotechnology company dedicated to creating and delivering the next generation of gene editing therapies to patients. The Company is leveraging its proprietary Prime Editing platform, a versatile, precise and efficient gene editing technology, to develop a new class of differentiated, one-time, potentially curative genetic therapies. Designed to make only the right edit at the right position within a gene while minimizing unwanted DNA modifications, Prime Editors have the potential to repair almost all types of genetic mutations and work in many different tissues, organs and cell types.

Prime Medicine is currently progressing a diversified portfolio of eighteen programs initially focused on genetic diseases with a fast, direct path to treating patients or with a high unmet need because they cannot be treated using other gene-editing approaches. Over time, the Company intends to maximize Prime Editing's therapeutic potential and advance potentially curative therapeutic options to patients for a broad spectrum of diseases. For more information, please visit www.primemedicine.com.

About Myeloid Therapeutics

Myeloid Therapeutics is a clinical stage oncology company developing novel therapies for cancer. Integrating the fields of mRNA-based therapeutics, immunology, and cancer biology, the Company's proprietary platform provides clinical solutions for patients with solid tumors.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, implied and express statements about Prime Medicine's beliefs and expectations regarding: the positive outcome of the disputes between Prime Medicine and Myeloid. The words "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "expect," "estimate," "seek," "predict," "future," "project," "potential," "continue," "target" and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including the risks and uncertainties described in the section entitled "Risk Factors" in Prime Medicine's most recent Annual Report on Form 10-K, as well as any subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent Prime Medicine's views only as of today and should not be relied upon as representing its views as of any subsequent date. Prime Medicine explicitly disclaims any obligation to update any forward-looking statements subject to any obligations under applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

Investor and Media Contact
Amy Conrad
Juniper Point
[email protected]

SOURCE Myeloid Therapeutics, Inc.