GenEdit Achieves First Milestone from Collaboration and License Agreement with Genentech

GenEdit, Inc. today announced achievement of the first milestone from the multiyear collaboration and license agreement with Genentech, a member of the Roche Group. The companies are employing GenEdit’s NanoGalaxy platform to discover and develop hydrophilic nanoparticles (HNPs) that can be used to develop nucleic acid-based medicines for autoimmune indications.

“This milestone payment marks important progress made across our multiyear collaboration with Genentech, and we are proud to have achieved this key milestone,” said Kunwoo Lee, Ph.D., CEO of GenEdit.

Pursuant to the agreement announced January 2024, GenEdit has earned an undisclosed milestone payment. Under the terms of the previously announced agreement, GenEdit is eligible to receive up to $629 million in near-term, preclinical and clinical development, commercial, and net sales milestone payments. GenEdit is also entitled to receive tiered royalties on global net sales for resulting products.

In addition to the collaboration with Genentech, GenEdit is utilizing its proprietary NanoGalaxy platform to advance its wholly-owned R&D programs in neurology, immunology, and immuno-oncology.