The global biopharmaceutical Baxalta and Precision BioSciences announced a global collaboration to develop a broad series of allogeneic chimeric antigen receptor (CAR) T cell therapies. Early-stage research, up to Phase 2, will be run by Precision BioSciences while Baxalta has the exclusive right to opt in for late-stage development and commercialization. The first program is expected to enter clinical studies in late 2017. Precision BioSciences will receive an upfront payment of $105 million from Baxalta, with additional option fees, developmental, clinical, regulatory, and sales milestones.