PTC Therapeutics and SMA Foundation to collaborate on regenerative medicine
New Jersey, USA-based rare disease drug developer PTC Therapeutics (Nasdaq: PTCT) today announced that it will provide an initial funding of $60 million to the Spinal Muscular Atrophy (SMA) Foundation to discover and develop regenerative medicines for neuromuscular diseases to help restore patients lost function.
The SMA Foundation and PTC Therapeutics have entered into a new collaboration focused on regenerative medicine to further advance scientific research in SMA and other neuromuscular disorders with the goal of developing new treatments. Shares of PTC were up 3.3% at $60.36 by late morning.
The availability of several disease-modifying therapies for SMA has made regenerative interventions the next frontier in drug discovery and development. The SMA Foundation–PTC partnership will provide funding, managed by the SMA Foundation, to academic institutions and other collaborators to advance foundational research in the area of regenerative medicine.
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