REGENXBIO and AbbVie Officially Ink Eye Care Collaboration Deal Worth Up to $1.75 Billion
AbbVie will pay REGENXBIO up to $1.75 billion for the rights to develop and commercialize its treatment of various eye conditions.
REGENXBIO announced the closing of its collaboration and license agreement with AbbVie to develop and commercialize its gene therapy candidate, RGX-314, on Nov. 9, 2021. Under the terms of the agreement, REGENXBIO will receive an upfront payment of $370 million from AbbVie, with an additional $1.38 billion to be paid should additional development, regulatory, and commercial milestones be met.
RGX-314 is a potential one-time gene therapy for treatment of wet-age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases. According to a company press release, RGX-314 encodes an antibody fragment designed to inhibit vascular endothelial growth factor (VEGF). VEGF pathways are believed to result in leaky blood vessels that contribute to the accumulation of fluid in the retina.
Currently, REGENXBIO is researching two separate routes of administration for RGX-314 to the eye. One is through a standardized subretinal delivery procedure, while the other delivers it through suprachoroidal space. The company has licensed exclusive rights to the SCS Microinjector from Clearside Biomedical, Inc. to deliver gene therapy treatments to the suprachoroidal space of the eye.
Per the terms of the deal, REGENXBIO will be responsible for completion of the ongoing trials of RGX-314; costs of future trials will be shared across both companies. The companies will equally share any RGX-314 net sales in the United States, whereas AbbVie pay REGENXBIO tiered royalties on net sales of RGX-314 outside the U.S.
Source: REGENXBIO
