MGTX - MeiraGTx signs asset purchase agreement for bota-vec collaboration with Janssen
2023-12-21 08:15:23 ET
MeiraGTx ( NASDAQ: MGTX ) said Thursday it signed an asset purchase agreement for the remaining interests in bota-vec, used for the treatment of XLRP, from Janssen Pharmaceuticals.
The company has also signed a commercial supply agreement and a technology transfer agreement for bota-vec manufacturing.
MeiraGTx said it would receive $130 million in upfront and near-term milestone payments and will receive up to an additional $285 million in cash payments upon first commercial sales of bota-vec in the U.S. and EU and for manufacturing technology transfer.
“The initial $130 million upfront and near-term milestone payments, combined with the $30 million investment we received from Sanofi in October, increases our cash runway to mid-2026, without including the additional $285 million in potential payments associated with this transaction,” CEO Alexandria Forbes said in a statement.
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MeiraGTx signs asset purchase agreement for bota-vec collaboration with Janssen