Tome Biosciences Successfully Acquires Replace Therapeutics
Wednesday, January 03, 2024
Tome Biosciences, Inc. has recently completed the acquisition of Replace Therapeutics Inc., a privately-held biotechnology company specializing in a novel programmable genomic integration (PGI) method designed for the insertion and deletion of small DNA sequences. The technology, known as ligase-mediated PGI (L-PGI), combines the precision of CRISPR/Cas9 with the DNA ligase writing enzyme, enabling accurate manipulation of small DNA sequences. L-PGI is particularly effective for making edits in the range of tens to hundreds of base pairs, complementing Tome's existing large DNA PGI technology, integrase-mediated PGI (I-PGI).
In laboratory studies, L-PGI has shown high efficiency and specificity in both dividing and non-dividing cells, and it does not require double-strand DNA breaks. The acquisition of Replace Therapeutics and its L-PGI technology enhances Tome's PGI toolset, providing greater flexibility in choosing the appropriate editing tool for various medical indications.
Rahul Kakkar, MD, President, and CEO of Tome, highlighted the significance of adding L-PGI to their toolkit, stating that it expands the range of diseases they can potentially cure. Shakked Halperin, PhD, Founder, and CEO of Replace, expressed confidence in Tome's leadership in PGI and their capability to further develop the ligase-mediated technology for diverse applications.
As part of the acquisition deal, Tome will acquire Replace Therapeutics through a merger transaction, involving an initial payment of $65 million in up-front and near-term milestones. The total deal value could reach up to $185 million, including a combination of stock and cash. Following the merger, Replace Therapeutics will become a wholly-owned subsidiary of Tome Biosciences.
Source: globenewswire.com
