Prime Medicine, Inc.

General Information
We are a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, Prime Editors, to address the widest spectrum of diseases by deploying our Prime Editing technology, which we believe is a versatile, precise, efficient and broad gene editing technology. If nuclease gene editing approaches are “scissors” for the genome, and base editors are “pencils,” erasing and rewriting a subset of single letters in the gene, then Prime Editing is a “word processor,” searching for the correct location and replacing or repairing a wide variety of target DNA.
Our novel Prime Editors have two main components that act together to edit DNA: (i) a Prime Editor protein, comprising a fusion between a Cas protein and a reverse transcriptase enzyme, and (ii) a pegRNA, that targets the Prime Editor to a specific genomic location and provides a template for making the desired edit to the target DNA sequence. Prime Editing leverages the established DNA-targeting capabilities of CRISPR-Cas proteins modified to nick, but not cause double-stranded DNA breaks, and combines these with the DNA synthesis capabilities of reverse transcriptase enzymes, which have been engineered to efficiently and precisely copy a pegRNA-encoded edited sequence into target DNA.
Gene editing, including platforms such as Prime Editing, is a novel technology that is not yet clinically validated for human therapeutic use. 
We believe our in-licensed and company-owned Prime Editing technology has transformative potential that could change the course of how disease is treated and overcome the challenges associated with current genetic therapies. 
Prime Medicine was co-founded by David Liu, Ph.D., a world-renowned leader in the field of gene editing, and Andrew Anzalone, M.D., Ph.D., who conceived of and developed Prime Editing technology. 
On Sept. 20, 2022, we achieved a major milestone as the United States Patent and Trademark Office, or the USPTO, issued U.S. Patent 11,447,770, or the ‘770 Patent, covering methods of using Prime Editors. 
(Note: Prime Medicine, Inc. upsized its IPO at pricing on Oct. 19, 2022, to 10.29 million shares (10,294,118 shares) – up from 8.9 million shares in the prospectus – and priced its IPO at $17 – the mid-point of its $16-to-$18 range – to raise $174.93 million. Prime Medicine disclosed terms for its IPO in an S-1/A filing dated Oct. 12, 2022: The company planned to offer 8.9 million shares at $16.00 to $18.00 to raise $151.3 million. Prime Medicine filed its S-1 on Sept. 23, 2022; it submitted confidential IPO documents on Dec. 20, 2021.)
Industry: Biologic Substances
Employees: 158
Founded: 2019
Contact Information
Address 21 Erie Street Cambridge, MA 02139
Phone Number (617) 564-0013
Web Address
View Prospectus: Prime Medicine, Inc.
Financial Information
Market Cap $1627.33mil
Revenues $0 mil (last 12 months)
Net Income $-132.51 mil (last 12 months)
IPO Profile
Symbol PRME
Exchange NASDAQ
Shares (millions): 10.3
Price range $17.00 - $17.00
Est. $ Volume $175.0 mil
Manager / Joint Managers J.P.Morgan/ Goldman Sachs/ Morgan Stanley/ Jefferies
Expected To Trade: 10/20/2022
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change