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REGENXBIO and Ultragenyx Announce New License Agreement for Use of NAV® Technology Platform for the Treatment of Rare Metabolic Disorder
- REGENXBIO grants Ultragenyx exclusive, worldwide rights to NAV AAV8 and AAV9 Vectors for the development and commercialization of gene therapy treatments
About this update from Regenxbio Inc.
[{"type":"text","content":"- REGENXBIO grants Ultragenyx exclusive, worldwide rights to NAV AAV8 and AAV9 Vectors for the development and commercialization of gene therapy treatments for a rare metabolic disorder\n - Agreement for use of NAV Vectors expands ongoing relationship between Ultragenyx and REGENXBIO\n\n\nROCKVILLE, Md. and NOVATO, Calif., March 31, 2020 /PRNewswire/ -- REGENXBIO Inc. (Nasdaq:RGNX), a leading clinical-stage biotechnology company seeking to improve lives through the curative potential of gene therapy based on its proprietary NAV Technology Platform, and Ultragenyx Pharmaceutical Inc. (Nasdaq:RARE), a biopharmaceutical company focused on the development and commercialization of novel products for serious rare and ultra-rare diseases, today announced a new exclusive, worldwide license agreement, extending the companies' existing gene therapy partnership.\nUnder the terms of the agreement, REGENXBIO has granted Ultragenyx an exclusive, worldwide license, with rights to sublicense, to REGENXBIO's NAV AAV8 and AAV9 Vectors for the development and commercialization of gene therapy treatments for a rare metabolic disorder. In return for these rights, REGENXBIO will receive an upfront payment of $7 million, ongoing fees, milestone payments, and royalties on net sales of products incorporating the licensed intellectual property. \n\"We are pleased to expand our long-standing relationship with Ultragenyx through this new license agreement, which will enable Ultragenyx to apply our proprietary NAV Vectors to the development of a new gene therapy for rare diseases,\" said Kenneth T. Mills, President and Chief Executive Officer of REGENXBIO. \"Today's announcement provides further validation of the breadth and depth of our intellectual property portfolio, and we remain committed to working closely with leading companies to enable the development of important gene therapy programs.\"\n\"This latest license agreement reinforces Ultragenyx's commitment to developing gene therapies for multiple rare diseases and adds a new indication to our relationship with REGENXBIO,\" said Emil D. Kakkis, MD, PhD, Chief Executive Officer and President of Ultragenyx. \"\nUltragenyx is a longstanding licensee partner of REGENXBIO. In addition to today's agreement, Ultragenyx has in-licensed NAV Vectors for the development of gene therapies to treat Ornithine Tra...