RE - AbbVie and REGENXBIO team up for eye disease therapy in $1.5 billion deal

REGENXBIO (NASDAQ:RGNX) is trading ~5.8% higher in the pre-market in reaction to more than a $1.5 billion deal announced with AbbVie (NYSE:ABBV) for gene therapy candidate, RGX-314. RGX-314 is a potential one-time therapy for wet age-related macular degeneration (wet AMD), diabetic retinopathy (DR), and other chronic retinal diseases, and it is currently undergoing several studies, including a pivotal trial for patients with wet AMD. Per the terms of the agreement, REGENXBIO (RGNX) will be responsible for the completion of ongoing clinical trials, and the two companies will jointly advance and share the costs of the additional trials. AbbVie (ABBV) will lead global development efforts and the commercialization of RGX-314. In return, REGENXBIO (RGNX) will receive $370 million of upfront payment and milestone payments worth up to $1.4 billion from AbbVie (ABBV) in addition to tiered royalties on overseas net sales. The transaction is expected to close by the end of the year. Read:

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AbbVie and REGENXBIO team up for eye disease therapy in $1.5 billion deal