Novartis once again turned to acquisitions to build its gene therapy pipeline, this time promising Up to 1.5 billion US dollars Acquired Gyroscope Therapeutics, a clinical-stage company whose main candidate solves the visual impairment that causes blindness.
According to financial terms announced on Wednesday, Novartis will advance Gyroscope US$800 million. Based on the progress of Gyroscope therapy, the company’s shareholders may receive another as much as $700 million in milestone payments.
London-based Gyroscope develops gene therapies for eye diseases. The company’s most advanced plan is an experimental treatment for geographic shrinkage. This is an advanced form of dry age-related macular degeneration, in which the part of the retina called the macula deteriorates, causing vision loss. This condition can develop into geographic atrophy and the patient loses central vision.
There are no FDA-approved treatments for geographic atrophy. The gyroscope is designed to treat this disease by addressing the overactive immune system activity associated with progressive vision loss. Some patients with geographic atrophy have genetic variants that cause the complement system (part of the immune system) to overactive.
Gyro therapy GT005 aims to allow retinal cells to produce more proteins to restore the balance of overactive complement system, which is related to the progress of age-related macular degeneration and geographic atrophy. By increasing the production of key proteins and reducing inflammation, the goal is to protect the patient’s vision. The gene therapy is intended as a one-time treatment and is currently in the second phase of testing.
Novartis’ gene therapy pipeline is mainly the product of acquisitions.The division of the company now known as Novartis Gene Therapy passed Acquired AveXis for USD 8.7 billion in 2018The gene therapy Zolgensma for spinal muscular atrophy is AveXis’ lead project, although the company is still in the early development stage with additional projects for Novartis.
Other acquisitions fill Novartis’ gene therapy pipeline.Last year, the company prepaid US$150 million for Buy view bio, A preclinical biotechnology to develop gene therapy for vision loss. In September, Novartis paid an undisclosed amount to Buy Arctos Medical, A start-up company with preclinical gene therapy candidates, and proprietary technology with the potential to solve many types of hereditary retinal dystrophy. The Swiss pharmaceutical giant also gained experience in ocular gene therapy through a joint commercialization agreement with Luxturna, a Roche gene therapy for inherited vision loss diseases.
“With our own pioneering research in ocular gene therapy and our experience in applying Luxturna to patients with hereditary retinal dystrophy outside the United States, Novartis has complete expertise in ocular gene therapy, which will enable We can well continue to develop this promising therapy-timely treatment”, Novartis Pharmaceuticals President Mary Francis Struddin said in a prepared statement.
Gyroscope was established in 2016. In addition to GT005, the company has other gene therapies for retinal diseases that are in the early development stage of retinal diseases. According to securities documents, venture capital-backed Gyroscope has raised more than $259.3 million in financing.The most recent financing was $148 million The March C round of financing was conducted before applying for the US IPO. Gyro abandoned its IPO plan in May. Last month, the gyroscope and Sanofi pledges to invest up to 60 million U.S. dollars in biotechnologyThe agreement gives Sanofi the right of first refusal to negotiate future transactions involving GT005 in an unspecified geographic market.
Photos of Flickr users Ken Tigardin Through knowledge sharing license
