MeiraGTx to earn up to $415 million in Janssen deal
Shares in gene therapy company MeiraGTx (Nasdaq: MGTX) shot up by around 20% in Thursday morning’s trading in New York.
The firm earlier announced an asset purchase agreement with the Johnson & Johnson (NYSE: JNJ) subsidiary Janssen, in which it exchanged future potential royalties for its Phase III candidate, botaretigene sparoparvovec, for a total of up to $415 million.
Under the terms of the deal, MeiraGTx is eligible to receive $130 million in upfront and near-term milestone payments, as well as an additional $285 million if the drug reaches commercialization.
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