Prime Medicine is a clinical-stage biotech developing genetic medicines based on Prime Editing, a next-generation gene editing technology invented at the Broad Institute. Prime Editing uses a modified Cas9 enzyme paired with a specialized guide RNA to make precise DNA corrections — including single-nucleotide changes, insertions, and deletions — without cutting both strands of DNA. Prime Medicine argues this approach is safer and more versatile than conventional CRISPR (which causes double-strand breaks) and base editing (which is limited to specific substitution types). The company has no approved products yet. Its lead programs are PM577 for Wilson Disease and PM647 for Alpha-1 Antitrypsin Deficiency, both rare liver diseases, with IND filings targeted for 2026 and initial clinical data expected in 2027. Its ex vivo program, PM359 for Chronic Granulomatous Disease, has already shown clinical proof-of-concept in humans and is being advanced toward a BLA filing. Prime Medicine funds operations through partnerships rather than product revenue: BMS paid $55M upfront and made a $55M equity investment for rights to use Prime Editing in T-cell engineering, with over $3.5B in potential milestones. The Cystic Fibrosis Foundation is funding Prime Medicine's CF program with up to $39M. Prime Medicine licenses its foundational IP from the Broad Institute, paying mid-single-digit royalties on net sales. Long-term, the company intends to sell one-time gene therapies directly at prices typical of rare disease curative treatments.