[ad_1]
Text size
The time of dreams
Actions of a small biotech called
Voyager Therapeutics
jumped 46% on Wednesday after the company said
Pfizer
had granted access to its gene therapy technology in a deal worth up to $ 630 million.
According to Voyager (ticker: VYGR), Pfizer will pay $ 30 million upfront for protein use options known as capsids developed by Voyager in its gene therapy programs. Capsids are envelopes that cover viruses used to deliver genetic material as part of gene therapy. Voyager’s technology identifies capsids designed to more effectively transmit viruses to targeted parts of the body.
In addition to the upfront payment of $ 30 million, Pfizer could pay an additional $ 20 million within 12 months of signing to exercise two options, and Voyager could earn up to $ 580 million in milestone payments if the company go ahead with a product. Voyager would also receive royalties if a product using capsids hit the market.
Voyager said earlier this year that it was focusing on its program to develop capsids for adeno-associated viruses, or AAVs, the viral vectors used in gene therapy.
“Our collaboration with Voyager will provide Pfizer with access to additional AAV capsids that could help further advance our industry-leading gene therapy portfolio,” said Seng Cheng, Scientific Director of the Research Unit. rare diseases from Pfizer, in a statement from Voyager. “We are impressed with Voyager’s results to date. “
The deal comes after a tough time for Voyager. Shares of the company were down 65.5% so far this year at market close on Tuesday, after falling nearly 50% in 2020. The company’s gene therapy programs had encountered hurdles, and in February of this year, Voyager announced that its partner
Neurocrine biosciences
(NBIX) had decided to end a collaboration on gene therapy for Parkinson’s disease.
The company traded CEOs this spring and its market value was just $ 97.1 million at market close on Tuesday.
The company calls the technology it uses to identify capsids TRACER. “This transaction highlights the potential of our TRACER platform to identify novel AAV capsids that target desired cells and tissues with greater specificity at lower doses and with less off-target risk than serotypes. conventional AAVs, ”said Michael Higgins, Voyager’s interim CEO, in a statement statement.
Voyager says its capsids penetrate the blood-brain barrier, among other things, better than other capsids. The deal will give Pfizer access to capsids to target the central nervous system and the heart.
Shares of Pfizer (PFE) fell 0.9% in pre-market trading as part of a further sale of shares in vaccine maker Covid-19. The
S&P 500
and
Dow Jones Industrial Average
were down 1% and 1.1%, respectively, in recent trade.
Write to Josh Nathan-Kazis at [email protected]
[ad_2]
Source link