JUL 06, 2015
Comprehensive Ophthalmology, Retina/Vitreous
Biogen and AGTC announced that they will team up to develop gene-based therapies for ophthalmic diseases, starting with X-linked retinoschisis and X-linked retinitis pigmentosa.
“We expect this collaboration will further validate our novel adeno-associated virus gene therapy platform and support the development of new therapies that may allow for transformative treatments for these rare inherited eye diseases and other clinical indications,” said Sue Washer, president and CEO of AGTC “Biogen’s significant commitment to advancing gene therapies and demonstrated success in developing innovative therapies to treat complex diseases, combined with our proprietary manufacturing technology and extensive gene therapy experience, makes this an ideal partnership.”
Under the agreement, Biogen will make an upfront payment of $124 million to AGTC, which includes a $30 million equity investment in AGTC. Biogen will gain a license for the clinical candidate for X-linked retinoschisis and the pre-clinical candidate for the treatment of X-linked retinitis pigmentosa, and the option to license discovery programs for 3 additional indications.
AGTC is eligible to receive upfront and milestone payments exceeding $1 billion, including up to $472.5 million for the retinoschisis and retinitis pigmentosa candidates In addition, Biogen will make payments up to $592.5 million across the discovery programs, along with royalties of annual net sales.