Biogen inks ophthalmic gene therapies deal with AGTC

2 July 2015

US biotech major Biogen (Nasdaq: BIIB) and Applied Genetic Technologies Corp (Nasdaq: AGTC) have signed a broad collaboration and license agreement to develop gene-based therapies for multiple ophthalmic diseases, that could be worth more than $1 billion. AGTC shares were up 16.8% to $16.26 in premarket trading on increased volume.

The collaboration will focus on the development of a portfolio of AGTC’s therapeutic programs, including both a clinical stage candidate and a preclinical candidate for orphan diseases of the retina that can lead to blindness in children and adults. The agreement also includes options for early stage discovery programs in two ophthalmic diseases and one non-ophthalmic condition, as well as an equity investment in AGTC by Biogen and a license agreement for manufacturing rights.

Financial terms of the collaboration

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