Yarrow Biotechnology in-licenses ProQR's ASO technology
Life-cycle investment firm RTW Investments and Dutch biotech ProQR Therapeutics (Nasdaq: PRQR) today announced that Yarrow Biotechnology, a company newly created by RTW, has in-licensed exclusive rights to ProQR’s antisense oligonucleotide (ASO) technology to develop and commercialize potential therapies for an undisclosed non-ophthalmic target.
Yarrow is focused on developing ASO-based therapeutics for disorders with high unmet need. News of the deal pushed ProQR’s shares up 5.4% to $6.70 in pre-market trading today, though the stock drifted off as regular trading began.
Dr Roderick Wong, managing partner and chief Investment Officer of RTW, said: “We believe RNA-based therapies hold great promise to treat genetically-defined diseases. We are excited to partner with ProQR to in-license the first target to be developed in Yarrow’s pipeline.”
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