Business
Homology Medicines Reports Fourth Quarter and Full Year 2021 Financial Results and Recent Highlights
- Formed New AAV Manufacturing and Innovation Business with Oxford Biomedica to Leverage Homology’s Process Development and Manufacturing Capabilities - -
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[{"type":"text","content":"- Formed New AAV Manufacturing and Innovation Business with Oxford Biomedica to Leverage Homology’s Process Development and Manufacturing Capabilities - - Received $130 Million Non-Dilutive Capital that Significantly Extends Cash Runway - - Launched pheEDIT Gene Editing Trial for PKU and juMPStart Gene Therapy Trial for Hunter Syndrome; Program Updates Expected by Year-End - - Company Updates Guidance on pheNIX Gene Therapy Trial for PKU - BEDFORD, Mass., March 23, 2022 (GLOBE NEWSWIRE) -- Homology Medicines, Inc. (Nasdaq: FIXX), a genetic medicines company, announced today financial results for the fourth quarter and full year ended December 31, 2021, and highlighted recent accomplishments. “We recently closed our deal with Oxford Biomedica to form a new company that incorporates Homology’s expertise in AAV process development and manufacturing capabilities, team and GMP facility,” stated Arthur Tzianabos, Ph.D., President and Chief Executive Officer of Homology Medicines. “Months ago, we made a strategic decision to find the right opportunity to leverage these internal capabilities that supported three successfully cleared INDs and our pipeline. We believe the structure of this partnership with a global leader in viral vector manufacturing is unique in allowing us to retain an ownership position in what we have built over the years. It also enables us to benefit from preferred customer access to the same high quality, innovative manufacturing capabilities and team, as well as any future value creation. In addition, the $130 million in non-dilutive capital and the resulting cost-savings from the deal significantly extends our cash runway in support of our three clinical programs and pipeline.” Albert Seymour, Ph.D., Chief Scientific Officer of Homology Medicines, added, “Initiating the pheEDIT gene editing trial was a major accomplishment as this is a novel approach to treat PKU that utilizes a different arm of our AAVHSC technology platform. Launching our juMPStart gene therapy trial for Hunter syndrome represents the first program to enter the clinic with a one-time systemic administration that is designed to address peripheral and CNS components of the disease, which is a highly differentiated approach. We will continue to work with our clinical sites and the patient communities to execute on both trials, and plan to provide...