2023-05-23 12:00:00
The Swiss laboratory wants to strengthen itself in the biotherapies segment. In exchange for the sum of 87.5 million dollars (81.1 M€), Novartis will carry out the acquisition of a gene therapy once morest cystinosis from the American biotech Avrobio, the AVR-RD-04 program, currently in stage I/II.
Cystinosis is a rare genetic disease characterized by an accumulation of cystine in the lysosomes, causing lesions in various organs and tissues, notably in the kidneys and the eyes. According to Orphanet, its incidence is estimated at around 1/100,000 to 1/200,000 live births. The biotech has also granted a license to the laboratory for certain other assets, know-how and other intellectual properties related to its gene therapy platform for use in this pathology.
With this transaction, Avrobio sees its cash horizon extended until the fourth quarter of 2024. “This transaction strengthens Avrobio’s balance sheet, focuses our pipeline strategy and is a strong endorsement of our gene therapy approach and plato gene therapy platform”, said Erik Ostrowski, the interim CEO and CFO of biotech. In addition to cystinosis, Avrobio’s pipeline includes development programs once morest Gaucher’s disease, Hunter’s disease and Pompe disease.
Novartis’ gene therapy portfolio includes Luxturna (voretigene neparvovec) and Zolgensma (onasemnogen abeparvovec), two gene therapies indicated for hereditary retinal dystrophy and spinal muscular atrophy, respectively.
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