Editas Medicine Will Provide Broad Institute With Up to $125 Million in CRISPR Funding
CRISPR startup, Editas Medicine have committed up to $125 million in research funding to the Broad Institute of MIT and Harvard and Harvard University.
The deal gives Editas Medicine an exclusive ‘first’ to negotiate for licenses to genome-editing inventions that rise from the sponsored research.
Editas has been rather vague on what the company could get in return for the cash, saying the funding will support “research useful or relevant to genome editing in the field of genomic medicines for the prevention or treatment of human disease.”
They’ve been pretty open about the financial aspects of the relationship, however. The first two research payments to the Broad Institute are already due, and worth $12.5 million in total.
The company is obliged to pay up to 10 times that amount in research funding over the duration of the agreement.
Editas Medicine was founded in 2013, including scientific founders, Feng Zhang of MIT, Jennifer Doudna of University of California Berkeley, and Harvard University’s George Church, Keith Young, and David Liu.
“Feng Zhang, George Church and David Liu are on the leading edge of the genomic medicine frontier, and it’s a privilege to work with them and to be allied with world-class institutions like the Broad and Harvard,” said Editas Medicine CEO, Katrine Bosley.
“We all share the goal of translating this cutting-edge science into breakthrough medicines for people with genetically-driven diseases.”