Averion International Corp. (fka AVRO)

[MiamiGent]

AVRO Avrobio Stock Jumps On Sale Of Gene Therapy Program To Novartis
BENZINGA
3:58 PM ET May-22-2023
Shares of clinical-stage gene therapy company AVROBIO, Inc. (NASDAQ:AVRO) are trading higher Monday due to its agreement to sell its investigational hematopoietic stem cell (HSC) gene therapy program for the treatment of cystinosis to Novartis AG (NYSE:NVS).

The Details: Avrobio agreed to sell the program to Novartis for $87.5 million in cash. The gene therapy company will retain full rights to its portfolio of first-in-class HSC gene therapies for Gaucher disease type 1 and type 3, Hunter syndrome and Pompe disease. (con't)