MeiraGTx soars on news of second deal with Janssen

US healthcare giant Johnson & Johnson’s (NYSE: JNJ) Janssen subsidiary today announced a worldwide collaboration and license agreement with clinical-stage gene therapy company MeiraGTx Holdings (Nasdaq: MGTX), with the news sending the latter’s shares rocketing more than 23% to $11.74 in morning trading.

The companies aim to develop, manufacture and commercialize MeiraGTx’ clinical stage inherited retinal disease portfolio, including leading product candidates for achromatopsia (ACHM) caused by mutations in either CNGB3 or CNGA3, and X-linked retinitis pigmentosa (XLRP). Further, the companies have formed a research collaboration to explore new targets for other inherited retinal diseases and further develop adeno-associated virus (AAV) manufacturing technology.

“Janssen is excited to expand our portfolio with the addition of innovative assets that have the potential to improve sight or prevent the progression to blindness in inherited retinal diseases which currently have no treatment options,” said Dr James List, global therapeutic area head, Cardiovascular & Metabolism, Janssen Research & Development, adding: “We look forward to partnering with MeiraGTx to develop these assets and explore new potential targets for inherited retinal diseases.”