(Alliance News) - Horizon Discovery Group PLC said Tuesday it has exercised its option to exclusively license a novel Base Editing technology from Rutgers, the state university of New Jersey.
Base Editing is a novel technology that enables scientists to make edits to base pairs in DNA by recruiting specific Base Editing enzymes (deaminases).
In January last year, the Cambridge-based gene editing firm signed an agreement with Rutgers, which granted Horizon an option to obtain an exclusive license to Rutger's Base Editing technology for therapeutic, diagnostic and service applications.
Under the terms of the agreement, Horizon and Rugers agreed to collaborate to further develop the Base Editing technology, which included the company undertaking its own evaluation and proof-to concept studies.
Horizon has now exercised its option and Rutgers has granted the company an exclusive license to Base Editing technology, the company noted.
The license includes the right for Horizon to sublicense the technology to entities seeking to use if for therapeutic development.
The company did not disclose financial terms of the agreement.
Horizon said it is now seeking early access customers to assess and shape the development of the platform, which could enable the development of novel therapeutics that rely in engineering cells either directly in the body or externally before transplanting back into the patient.
Terry Pizzie, chief executive officer, said: "Over the past year, we completed a detailed evaluation phase of Rutgers technology and are excited to now have an exclusive license for use in therapeutic, diagnostic and service applications."
"There is significant demand for access to Base Editing and we already have significant interest from potential partners interested in early access to this cutting-edge technology," Pizzie said.
Horizon Discovery shares were down 2.4% in London at 144.20 pence each on Tuesday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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