Spark Therapeutics buys Irish gene therapy company

9 March 2016

US biotech firm Spark Therapeutics (Nasdaq: ONCE) has acquired Dublin, Ireland-based Genable Technologies, a private gene therapy innovator with which Spark has collaborated since 2014 in the development of Genable's therapeutic program targeting one of the most prevalent forms of inherited retinal disease (IRD).

The consideration paid to Genable shareholders consisted of $6 million in cash and 265,000 shares of Spark common stock, valued at $9.1 million based on Friday's closing price, or a total transaction value of $15.1 million. Additional financial terms were not disclosed.

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