Janssen will pay up to $415 million for MeiraGTx’s botaretigene sparoparvovec, a gene therapy for treatment of X-linked retinitis pigmentosa (XLRP).
MeiraGTx has entered into an asset purchase agreement with Janssen Pharmaceuticals for the remaining interests in botaretigene sparoparvovec (bota-vec) a gene therapy for the treatment of X-linked retinitis pigmentosa (XLRP).
Under the agreement, MeiraGTx is to receive $130 million in upfront and near-term milestone payments.
The company will receive up to an additional $285 million in cash payments upon first commercial sales of bota-vec in the US and EU, as well as for manufacturing technology transfer.
Additionally, J&J will be responsible for any royalty or milestone amounts that become payable on bota-vec to University College London.
Alexandria Forbes, PhD, president and chief executive officer of MeiraGTx said the deal puts the company in a strong financial position and allows it to increase focus on two late-stage clinical programmes in Xerostomia and Parkinson’s disease and on its manufacturing capabilities.
“In addition, we continue to expedite the development of our Riboswitch gene regulation platform prioritising targets in metabolic disease, immunology and oncology, which we believe have the potential to significantly alter outcomes in these broad disease areas,” Dr Forbes added.
Earlier this year Sanofi invested $30 million in MeiraGTx. In return it will receive a right of first negotiation for the use of MeiraGTx’s Riboswitch gene regulation technology for certain Immunology and Inflammation and CNS targets, as well as for GLP-1 and other gut peptides for metabolic disease, and for MeiraGTx’s Phase II Xerostomia programme.
About XLRP
X-linked retinitis pigmentosa is a rare genetic disease, affecting men. It manifests as impaired night vision and peripheral vision loss and can eventually lead to blindness. There are currently no effective treatments for the rare disease.
In January 2019, Janssen entered into a worldwide collaboration and licence agreement with MeiraGTx, to develop, manufacture and commercialise its inherited retinal disease portfolio, including the XLRP gene therapy.
Source link
#MeiraGTx #sells #XLRP #gene #therapy #Janssen
