AGTC Earns $10 Million After Reaching Phase I/II Study Milestone

August 24, 2018: By Jon Swedien

Applied Genetic Technologies Corporation has earned a $10 million payment from Biogen for reaching a milestone outlined in a collaboration deal the companies signed in 2015, AGTC announced in July.

AGTC said the milestone was enrollment of the first patient in the second cohort of the company’s Phase I/II clinical trial evaluating safety and efficacy of an investigational AAV-based gene therapy for the treatment of X-linked retinitis pigmentosa (XLRP).

The open-label, dose-escalation study will assess the safety and efficacy of subretinal administration of the gene therapy candidate in patients with XLRP caused by mutations in the RPGR gene.

It will measure efficacy by evaluating changes in retinal structure, visual function, and quality of life.

Biogen paid AGTC a $124 million upfront payment when the collaboration deal was signed, and AGTC is eligible to earn milestone payments that could exceed $1 billion. The collaboration is focused on developing AGTC’s therapeutic programs.

AGTC, a clinical-stage biotechnology company, uses its proprietary gene therapy platform to develop products for severe diseases in ophthalmology.

Biogen focuses on discovering and developing therapies for neurodegenerative diseases, hematologic conditions, and autoimmune disorders.

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