July 2, 2021 -- Apellis Pharmaceuticals and Beam Therapeutics announced an exclusive five-year research collaboration focused on Beam's proprietary base editing technology for the discovery of treatments for disease of the complement system.
The companies will collaborate on six research programs focused on C3 and other complement targets in the eye, liver, and brain, the companies said. The agreement gives Apellis exclusive rights to license each of the six programs and gives the company responsibility for subsequent development.
On its end, Beam will receive $75 million in upfront and near-term milestones from Apellis, $50 million upon signing and an additional $25 million on the one-year anniversary of the contract execution date, the companies said.
The collaboration has an initial term of five years and may be extended up to two years on a per year and program-by-program basis.