Sarepta opts to acquire research partner Myonexus
US RNA-based drug developer Sarepta Therapeutics (Nasda1: SRPT) saw its shares gain 9.34% to $153.13 yesterday, after it announced it has exercised its option to acquire research partner Myonexus Therapeutics and new data on drug candidate MYO-101.
Myonexus is a clinical-stage biotechnology company developing transformative gene therapies for five LGMDs: LGMD2E, LGMD2D, LGMD2B, LGMD2C and LGMD2L. Subject to satisfaction of closing conditions, Sarepta will pay the Myonexus shareholders $165 million.
LGMDs represent a group of distinct genetic neuromuscular diseases with a generally common set of symptoms, including progressive, debilitating weakness and wasting that begins in muscles around the hips and shoulders before progressing to muscles in the arms and legs. Many LGMD sub-types, including the five programs progressing with Myonexus, are seriously life-limiting and often life-ending diseases.
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