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Prime Medicine Announces Additional Funding of Up to $24 Million from the Cystic Fibrosis Foundation to Advance Prime Editing Treatments for Cystic Fibrosis

-- Expanded funding builds on the initial agreement to accelerate development of Prime Editors for Cystic Fibrosis (CF) --

-- Prime Medicine to receive up to $24 million in additional funding from the Cystic Fibrosis Foundation --

-- Multiple hotspot Prime Editors may benefit more than 93% of people with CF --

CAMBRIDGE, Mass., July 16, 2025 (GLOBE NEWSWIRE) -- Prime Medicine, Inc. (NASDAQ:PRME), a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, today announced that the Cystic Fibrosis Foundation (CF Foundation) has agreed to provide the Company with up to $24 million in additional funding to accelerate the development of Prime Editors designed to permanently correct cystic fibrosis-related lung disease.

The CF Foundation's additional investment builds on initial funding received under Prime Medicines' January 2024 agreement, and reflects its interest in Prime Editing as a potentially curative approach for CF. Prime Editing can correct a wide range of genetic mutations, and Prime Medicine intends to leverage the technology's versatility and modularity to address multiple disease-causing mutations, potentially treating the vast majority of people with CF. Prime Medicine will initially focus on a program targeting G542X, one of the most prevalent CF-causing nonsense mutations and one for which there are no available therapies. In addition, the Company will continue to advance hotspot and PASSIGE-based approaches for other mutations with funding received from the CF Foundation under its initial commitment in 2024.

"We are honored to receive continued support from the CF Foundation, whose longstanding commitment to driving innovation has reshaped the treatment landscape for people living with CF," said Allan Reine, M.D., Chief Executive Officer of Prime Medicine. "This additional funding reflects our shared belief in the transformative potential of Prime Editing therapy for people with this devastating genetic disease, especially for those where the current standard of care is either ineffective or poorly tolerated. This funding also exemplifies our strategic approach to business development, and our commitment within Prime Medicine to leveraging external resources to accelerate innovation and ensure the broadest application of our technology."

The CF Foundation will provide Prime Medicine with up to $24 million in two tranches, subject to certain closing conditions and scientific milestones; the first tranche includes a $6 million equity ...