Editas Medicine Announces Strategic Updates and Portfolio Reprioritization
Strategic reprioritization of portfolio to focus on hemoglobinopathies and in vivo gene editing
Discontinuing internal investments in inherited retinal diseases and in preclinical wholly owned iNK programs
Reprioritization reduces workforce by approximately 20%, expected to extend cash runway into 2025
Company to present at the 41st Annual
Editas Medicine’s strategic changes include:
- Prioritizing resource allocation towards EDIT-301, the Company’s lead clinical program for the treatment of severe sickle cell disease and transfusion-dependent beta thalassemia.
- Discontinuing internal investments in the Company’s inherited retinal disease (IRD) programs, including EDIT-101 for Leber Congenital Amaurosis 10 (LCA10) and EDIT-103 for rhodopsin-associated autosomal dominant retinitis pigmentosa (RHO-adRP).
Editas Medicinewill seek partnerships for further development of its IRD programs.
- Discontinuing internal investments in the Company’s wholly owned multiplexed edited induced pluripotent stem cell (iPSC) derived natural killer (iNK) cell programs, including EDIT-202 for solid tumors.
Editas Medicinewill seek a partnership to continue development of the Company’s iNK franchise.
- Restructuring the Company’s research organization into two divisions:
- Drug Discovery for in vivo target identification, therapeutic asset creation, and translational research.
- Advanced Technology for in vivo targeted integration and targeted delivery.
- Developing milder patient preconditioning regimens for hematopoietic stem cell (HSC) transplants.
- Developing next generation in vivo medicines, including in vivo editing of HSCs and other tissues.
“I am excited about our new strategic direction, and I strongly believe that refocusing our business around hemoglobinopathies and in vivo gene editing will best position the Company to pursue our mission to deliver revolutionary medicines for people living with serious diseases,” said Gilmore O’Neill, M.B.,
In connection with the reprioritization of Editas Medicine’s portfolio,
“We sincerely thank Mark for his work and contribution to Editas during his time at the Company,” commented Dr. O’Neill. “Mark’s leadership was integral in driving forward our programs, and we wish him well in his future endeavors.”
Dr. O’Neill will present a corporate overview and details on this strategic update at the 41st Annual
As a clinical stage genome editing company,
This press release contains forward-looking statements and information within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "target," "should," "would," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements in this press release include statements regarding the Company’s clinical and product development strategy, the therapeutic and market potential of, and expectations for, the Company’s product candidates, and the anticipated effects of the Company’s portfolio reprioritization and research and development realignment and related workforce reduction, including the expected impact on its cash runway. The Company may not actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including: uncertainties inherent in the initiation and completion of preclinical studies and clinical trials, and clinical development of the Company’s product candidates; availability and timing of results from preclinical studies and clinical trials; whether interim results from a clinical trial will be predictive of the final results of the trial or the results of future trials; expectations for regulatory approvals to conduct trials or to market products; and availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements. These and other risks are described in greater detail under the caption “Risk Factors” included in the Company’s most recent Annual Report on Form 10-K, which is on file with the Securities and Exchange Commission, as updated by the Company’s subsequent filings with the Securities and Exchange Commission, and in other filings that the Company may make with the Securities and Exchange Commission in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise.
Source: Editas Medicine, Inc.