Astellas makes strategic investment in Taysha Gene Therapies

Japanese pharma major Astellas Pharma (TYO: 4503) has announced a strategic investment to support the advancement of Texas, USA-based Taysha Gene Therapies’ (Nasdaq: TSHA) adeno-associated virus (AAV) gene therapy development programs for the treatment of Rett syndrome and giant axonal neuropathy (GAN).

Shares of Taysha, which reported cash and equivalents of $66.2 million as of June 30, leapt up 41% to $2.14 in pre-market activity following the announcement.

The future options to potentially apply Astellas’ global R&D, manufacturing and commercialization capabilities in gene therapy to Taysha’s innovative AAV gene therapy development programs for genetic diseases of the central nervous system (CNS) create the opportunity for the two companies to enhance the development of novel treatment options for patients with Rett syndrome and GAN, who have serious unmet medical needs.