Ultragenyx Enters into a Partnership and Option to Acquire Agreement with GeneTx to Develop its GTX-102 for Angelman Syndrome

Shots:

• GeneTx to receive $20M as up front and will provide regulatory and scientific expertise with funds for all development activities during the option period. Ultragenyx to get an option to acquire GeneTx with an option exercised period prior to 30 days following FDA IND acceptance of GTX-102
• Ultargenix may extend the option period and can exercise till the first dosing of the patient in P-I/II study or 90days after the results of the study for an additional payment of $25M. Ultragenyx will be responsible for all development and commercialization activities and will pay the initial purchase price, milestones and royalties to GeneTx upon exercise the option
• GTX-102 is an investigational antisense oligonucleotide (ASO), currently being evaluated in late preclinical development study with an anticipated US FDA IND filing in H1’20

Click here to­ read full press release/ article | Ref: Ultragenyx | Image: Street Insider