Pharma companies like Pfizer and Bayer are entering the field, partnering with smaller biotechs.Drug-industry giants are showing more and more interest in gene editing, a technology that holds the potential to cure certain diseases with a single treatment. That means the possibility of multimillion-dollar deals for a slew of gene-editing companies.
"The field is expanding, and pharma is definitely interested in that and taking notice of it," Beam CEO John Evans told Insider. The agreement between the two companies pays his Massachusetts biotech $300 million up front. Mikael Dolsten, Pfizer's top scientist, echoed that sentiment, suggesting the pharma giant wouldn't stop with the Beam deal.
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