By Colin Kellaher 



  Precision BioSciences Inc. on Monday said Gilead Sciences Inc. is terminating a 2018 collaboration and license agreement, effective Sept. 4. 


  The Durham, N.C., clinical-stage biotechnology company said it will regain full rights and all data it generated for the in-vivo chronic hepatitis B virus program developed under the agreement. 


  Precision and Gilead in 2018 had agreed to develop genome-editing tools using Precision's proprietary Arcus platform to target viral DNA associated with hepatitis B. Under the agreement, Precision was entitled to receive up to about  $40 million in research funding over an initial three-year term and milestone payments of up to $445 million. 


  Precision said it doesn't anticipate any changes to its cash runway as a result of the termination, adding that its $154.2 million of cash and cash equivalents at the end of the first quarter is sufficient to fund its operations into the second half of 2021. 


  Write to Colin Kellaher at colin.kellaher@wsj.com