Per the deal, Beam Therapeutics will lead research activities for the three targets until development candidate selection, after which Pfizer will have the option to obtain exclusive, worldwide licenses to each development candidate. Pfizer will then be responsible for further development of the candidate as well as its potential regulatory approvals and commercialization. Beam Therapeutics has retained an option to co-develop and co-commercialize one of the programs. If Beam Therapeutics exercises this option, Pfizer and Beam will share costs as well as profits for this program in a 65%/35% ratio.