- Regeneron Pharmaceuticals Inc (NASDAQ:REGN) beefed up its gene therapy capabilities after signing a new deal with the German biotech ViGeneron.
- The companies did not specify their target but noted it would be some inherited retinal disease. It's an area where Regeneron has much expertise.
- One of its best-selling products, Eylea, is approved to treat three eye disorders: age-related macular degeneration, macular edema, and diabetic retinopathy.
- Read Next: Regeneron's Q4 Sales, Profits More Than Double With Boost From COVID-19 Treatment Sales.
- The agreement gives Regeneron the option to license a product against the target exclusively.
- Regeneron is making an upfront payment and providing research funding in return for that option.
- The big biotech could pay an option exercise fee, development and commercial milestones, and royalties on net sales.
- Detailed deal terms were not disclosed.
- ViGeneron says its gene therapies can differentiate themselves because they "enable the efficient transduction of target cells via intravitreal injection that allows lateral spreading and minimizes the risk of retinal detachment caused by conventional subretinal injection."
- Price Action: REGN shares are up 2.18% at $706.51 during the market session on the last check Wednesday.
