Precision BioSciences Raises $145.4 Million in IPO to Advance ARCUS-Based Gene Editing Therapies for Cancer and Genetic Disorders

VCBeat (WeChat Official Account: vcbeat) has learned that Precision BioSciences (NASDAQ: DTIL) recently announced the completion of its initial public offering on the Nasdaq Stock Market. Prior to deducting underwriting discounts and commissions and expenses payable, Precision raised approximately $145.4 million. Precision BioSciences plans to use the proceeds for clinical trials and the construction of a new manufacturing facility.

J.P. Morgan, Goldman Sachs & Co. LLC, Jefferies and Barclays acted as joint bookrunners for this offering.

Precision BioSciences, founded in 2006 and headquartered in North Carolina, USA, is a gene editing company. The company leverages its proprietary ARCUS genome editing technology to develop gene therapies for treating cancers, genetic disorders, and other diseases. Additionally, it applies gene editing technology to improve crop traits and increase agricultural yields.

ARCUS genome editing technology is derived from a natural enzyme known as a homing endonuclease, which is a site-specific DNA-cleaving enzyme encoded in the genomes of many eukaryotic species. Homing endonucleases possess unique capabilities, enabling them to precisely recognize long DNA sequences (12–40 base pairs) that are typically found only in complex genomes. By inserting new genetic sequences, homing endonucleases induce gene conversion, thereby modifying the genome with high precision. These enzymes can target specific sites for cleavage within complex genomes while minimizing off-target effects.

The core of ARCUS genome editing technology is the ARC nuclease, a fully synthetic enzyme resembling homing endonucleases that has undergone specific modifications. The ARC nuclease is compact in size, exhibits high specificity, and can be customized to recognize any DNA sequence within a target gene. To ensure maximal gene editing efficiency and minimal off-target activity, the ARC nuclease was developed by scientists using a proprietary suite of computational systems and laboratory techniques. Furthermore, the control potency and specificity of the ARC nuclease can be continuously optimized by analyzing its cleavage activity in relevant model organisms.

“Precision BioSciences’ patented genome editing technology, ARCUS, has the potential to become an innovative therapy for viruses such as hepatitis B virus (HBV), which are typically associated with high morbidity and mortality rates,” said Raymond Schinazi, a member of the Board of Directors at Precision BioSciences.

Reference Link:

https://precisionbiosciences.com/

https://www.biospace.com/article/precision-biosciences-launches-ipo-to-raise-126-4-million-/

(Compiled by Liu Na)