Adverum Makes Job Cuts To Advance Wet AMD Gene Therapy
Moving On After Last Year's Safety Issues
The California-based biotech is reducing its workforce to help finance a Phase II study of Ixo-vec, its eye gene therapy which has been blighted by safety concerns.
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Deal Snapshot: Roche and University of Pittsburgh spinout Avista Therapeutics signed the pact to enable the Swiss drug maker to develop gene therapies for retinal diseases using Avista’s platform tech.
Public Company Financings: Theravance sold its 85% interest in Trelegy royalties from GSK and Innoviva sold its 15% interest for up to $1.8bn in total. Also, ProKidney grossed $597m from its SPAC merger, Pliant raised $200m in a post-Phase IIa offering and Marinus earned $110m in a PRV sale.
Freeline’s FLT180a could still prove to be the best-in-class gene therapy for hemophilia B but its cash and time are running out as rivals grow closer to market.