Ultragenyx, Solid Biosciences in Strategic Collaboration for Duchenne Therapies
8:17 am ET October 23, 2020 (Dow Jones) Print
By Chris Wack
Ultragenyx Pharmaceutical Inc. and Solid Biosciences Inc. said Friday they entered into a strategic collaboration and license agreement to focus on the development and commercialization of new gene therapies for Duchenne.
The companies said they will collaborate to develop products that combine Solid's differentiated microdystrophin construct, Ultragenyx's HeLa producer cell line manufacturing platform, and AAV8 variants.
Under the terms of the collaboration, Solid granted Ultragenyx an exclusive license for any pharmaceutical product that expresses Solid's proprietary microdystrophin construct from AAV8 and variants thereof in clade E for use in the treatment of Duchenne and other diseases resulting from lack of functional dystrophin, including Becker muscular dystrophy.
Ultragenyx has made a $40 million investment in Solid and has agreed to pay up to $255 million in cumulative milestone payments per product upon achievement of specified milestone events, and tiered royalties on worldwide net sales at low double digit to mid-teens percentages. Upon achievement of proof-of-concept, Solid has the right to opt-in to co-fund collaboration programs in return for participation in a profit share or increased royalty payments.
Solid Biosciences shares rose 30% to $4.50 in premarket trading. Ultragenyx shares were up 2% to $93.90 premarket.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
October 23, 2020 08:17 ET (12:17 GMT)
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