Novartis have acquired Gyroscope Therapeutics, who are making investigational gene therapy for geographic atrophy.
Geographic atrophy is a form of advanced dry age-related macular degeneration and globally effects more than 5 million people.
Novartis are paying $800 million upfront and potential additional payments of up to $700 million. Until this deal is closed, the companies will continue to operate independently.
Gyroscope Therapeutics one-time investigational gene therapy, GT005, aims to restore balance to an overactive complement system by increasing production of the CFI protein. This protein regulates the activity of the complement system, the increasing production could reduce inflammation with the hopes of preserving eyesight.
The safety and efficacy of GT005 is currently under evaluation in a phase 1/2 clinical trial and phase 2 clinical trials. It has received fast track designation by the FDA.
“This acquisition is one more step forward in our commitment to delivering innovation in ophthalmology to treat and prevent blindness worldwide.” Marie-France Tschudin, President of Novartis Pharmaceuticals.
Ref: Novartis Acquires Gyroscope Therapeutics, Maker of Investigational Gene Therapy for Geographic Atrophy - Eyewire+
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