On May 31, 2019 Beam Therapeutics and Bio Palette reported an exclusive cross-license agreement around each companies’ base editing intellectual property (Press release, Beam Therapeutics, MAY 31, 2019, View Source [SID1234632055]).

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Bio Palette, a Japanese biotechnology company, is developing new genome editing technologies for use in various fields, including agriculture and the microbiome. Bio Palette has licensed base editing intellectual property from Kobe University, which was invented by Drs. Keiji Nishida and Akihiko Kondo.

Beam Therapeutics, a U.S.-based biotechnology company, is developing precision genetic medicines through base editing. Beam has licensed its foundational base editing intellectual property from Harvard University, the Broad Institute, MIT and Editas Medicine across multiple base editing platforms.

Under the terms of its agreement with Beam, Bio Palette is granting Beam an exclusive license to develop Bio Palette’s intellectual property in the field of human therapeutics, with the exception of rights to microbiome related therapeutics in Asia, which are retained by Bio Palette. In addition, Beam is granting Bio Palette an exclusive license to IP from its foundational license agreements to develop microbiome-related therapeutics in Asia. In order to strengthen the competitive position of both Parties, the Parties intend to work together to leverage Bio Palette’s experience and expertise in Japan. Bio Palette agrees to assist Beam in developing relationships in Japan, and to advise on Beam’s business development strategy in Japan.

"We are very pleased to enter into this strategic cross-licensing agreement with Bio Palette, with both parties benefiting in our respective areas of base editing expertise. This agreement further strengthens our leadership position in developing base editing for human therapeutics, and will enable Beam to take advantage of Bio Palette’s unique and valuable expertise in Japan," said John Evans, CEO of Beam Therapeutics.

"Base editing is an important potential therapeutic approach in the microbiome. As we are both pioneers in base editing, Beam Therapeutics is a natural partner for Bio Palette as we continue to enhance our focus on the development of microbiome-based therapeutics, and to be a global leader in this field," said Prof. Akihiko Kondo, director of Bio Palette. Financial terms of the agreement include an undisclosed upfront payment to Bio Palette from Beam, an equity position in Beam by Bio Palette, and royalties from sales of commercialized products by Beam or Bio Palette to the other party.