Horizon Discovery Group enters collaboration with Mammoth Biosciences
announced on Friday it entered into a strategic collaboration with Mammoth Biosciences to develop new CRISPR tools for gene editing.
Under the agreement, Horizon and Mammoth will collaborate to identify and optimise new proteins for use under license by Horizon, who will have exclusive rights to use the approach to bioproduction and sublicense it to partners intent on modifying their own proprietary cell lines.
Mammoth Biosciences is a US-based biotech company that developed the world's first CRISPR-based detection platform capable of sensing any biomarker or disease with DNA/RNA backed by investors that include Mayfield, NFX, 8VC, AME Cloud, Wireframe, Kairos, along with Tim Cook, Brook Byers, Bob Nelsen, and Jeff Huber.
Horizon said it will pay an ‘undisclosed consideration’ and issue warrants to Mammoth equivalent to 0.5% of Horizon’s shares at market price for the exclusive rights.
Shares in Horizon Discovery Group were trading 1.41% higher at 158.2p on Friday
Terry Pizzie, Chief Executive Officer of Horizon Discovery, commented: "Horizon first entered the Bioproduction market around five years ago as a new entrant to the market with a commercially-disruptive CHO cell line. Horizon has become a highly credible player in the Bioproduction market, having secured more than 60 licensing engagements and supported five successful Investigational New Drug (IND) filings.”
He added: "We are now committed to delivering the next generation of CHO cell lines to an industry where greater flexibility, increased speed to market and cost reduction are key drivers.
"We believe that our expertise in cell line engineering can be leveraged to address many of these issues and, with the addition of Mammoth's technology, we will be able to become a disruptive provider of best in class engineered CHO cells."
Horizon said the new proteins are to be deployed for the development of its next generation of engineered cell lines for the biopharmaceutical industry.
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