Shares of US biotech Regenxbio (Nasdaq: RGNX) surged 18.4% in pre-open trading Tuesday after announced a strategic partnership with Japan’s Nippon Shinyaku (TYO: 4516).
The collaboration is for the development and commercialization of RGX-121 for the treatment of mucopolysaccharidosis II (MPS II), also known as Hunter syndrome, and RGX-111 for mucopolysaccharidosis I (MPS I), also known as Hurler syndrome. Mucopolysaccharidoses (MPS) are a group of rare inherited metabolic diseases.
Under the accord, Regenxbio will receive $110 million at closing and up to an additional $700 million if certain milestones are achieved, consisting of $40 millionin potential development and regulatory milestones and $660 million in potential sales milestones. Regenxbio will also be eligible for meaningful double-digit royalties on net sales in the USA and Asia (collectively, the licensed territory).
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