Philadelphia-based Spark Therapeutics has acquired private, Irish gene therapy company, Genable Technologies, for $6m in cash and 265,000 shares of Spark common stock.
Philadelphia-based Spark Therapeutics has acquired private, Irish gene therapy company, Genable Technologies, for $6m in cash and 265,000 shares of Spark common stock.
Join thousands of industry professionals who rely on Scrip for daily insights
Already a subscriber?
The San Diego biotech’s lead product candidate is an antisense oligonucleotide-based therapy slated to enter Phase III development in the third quarter.
Emma Walmsley tells Scrip that the "biotech market is under a certain degree of pressure," so reasonably priced deals are available.
The companies will co-develop the drug for additional indications beyond Huntington’s disease, while Prilenia retains rights in key global markets.
The German group is paying $3.9bn to get hold of the US firm and its two approved products.
