Novartis Eyes Gene Therapy Growth With Vedere Acquisition
Paying $150m Upfront
The Swiss major is paying up to $280m to buy Vedere Bio, which has developed photoreceptor-protein based optogenetic therapies that are delivered to the retina intravitreally to restore vision.
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The Swiss giant is paying up to $1.5bn upfront to get hold of Gyroscope's AAV2-based one-time investigational gene therapy for geographic atrophy, an advanced form of dry AMD that leads to irreversible vision loss.
Private Company Edition: More $100m-plus mega-rounds means another billion-dollar week for venture capital deals, including financings for G2 Bio, Hummingbird and Numab. Also, BioTheryX brings in $92m, Vedere launches with $77m and Eliem raises $60m two months after launching with $80m.
Fresh cash will help advance the UK firm's one-time investigational gene therapy for geographic atrophy and a listing in the US is in the offing.