Fenwick Represents Scribe Therapeutics in Strategic Collaboration with Prevail, a Wholly Owned Subsidiary of Lilly

Fenwick represented Scribe Therapeutics, a molecular engineering company pioneering a CRISPR by Design™ platform for genetic medicine, in its strategic collaboration with Prevail Therapeutics, a wholly owned subsidiary of Eli Lilly and Company, granting Prevail exclusive rights to Scribe’s CRISPR X-Editing (XE) technologies for the development of in vivo therapies directed to specified targets known to cause serious neurological and neuromuscular diseases.

Under the terms of the agreement, Scribe will receive $75 million consisting of an upfront payment and equity investment in the form of a convertible note, and is eligible to receive more than $1.5 billion in development and commercial milestone payments. In addition, Prevail will pay research funding and tiered royalties ranging into the low double-digits on net future sales. Scribe also has the right to opt-in to co-fund and share profits in the U.S. on one collaboration program. More information about the collaboration can be obtained from the announcement.

The Fenwick transaction team was led by life sciences partner Stefano Quintini and included partners Jake Handy and Daniel Becker.​​