Novartis, Spark Reach Agreement for Vision Loss Gene Therapy
25 January 2018 - 5:50PM
Dow Jones News
By Pietro Lombardi
Novartis AG (NOVN.EB) has reached a licensing agreement with
Spark Therapeutics Inc. (ONCE) to commercialize outside the U.S. a
gene therapy for a form of vision loss, the companies said on
Wednesday.
Under the agreement, Novartis will make an upfront cash payment
of $105 million, plus up to $65 million in future "cash milestone
payments based on near-term European Regulatory Agency (EMA)
regulatory approval and initial sales outside the U.S. in certain
markets," Spark said.
"Spark Therapeutics is also entitled to receive royalty payments
on net sales of investigational voretigene neparvovec outside the
U.S," it said.
The agreement covers development, registration and
commercialization rights to voretigene neparvovec, known as
Luxturna, outside the U.S., while Spark maintains exclusive rights
in the U.S. and is responsible for obtaining the EU regulator's
approval.
The FDA approved the drug in December, while an application to
the EU regulator was filed in July.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
January 25, 2018 01:35 ET (06:35 GMT)
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