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Voyager Therapeutics to Receive $25 Million Payment for License of Next-Generation AAV Capsids for Multiple Neurologic Disease Targets
Options exercised on two targets; Voyager eligible to receive associated development, regulatory, and commercial milestones, plus tiered royalties With option
About this update from Voyager Therapeutics, Inc.
[{"type":"text","content":"Options exercised on two targets; Voyager eligible to receive associated development, regulatory, and commercial milestones, plus tiered royalties With option exercise, potential to expand agreement to include capsids for up to two additional targets extends for next 18 months CAMBRIDGE, Mass., March 06, 2023 (GLOBE NEWSWIRE) -- Voyager Therapeutics, Inc. (Nasdaq: VYGR), a biotechnology company dedicated to breaking through barriers in gene therapy and neurology, today announced that Novartis AG (NYSE: NVS) has exercised its options to license novel capsids generated from Voyager’s TRACER™ capsid discovery platform for use in gene therapy programs against two undisclosed neurologic disease targets. “We believe intravenously-delivered, brain-penetrant capsids such as those generated through Voyager’s TRACER™ capsid discovery platform are critical to enable utilization of gene therapy for neurologic diseases,” said Alfred Sandrock, Jr., M.D., Ph.D., Chief Executive Officer of Voyager. “We view Novartis as a leader in the gene therapy field, so we greatly appreciate their decision to leverage our technology in their programs. Additionally, the non-dilutive funding provided through this capsid license, as well as recent agreements with Pfizer and Neurocrine Biosciences, further strengthens Voyager’s balance sheet and supports the advancement of our platform and pipeline.” Under the terms of the license option agreement, originally announced in March 2022, Voyager previously received a $54 million upfront payment from Novartis for the option to license capsids for up to three central nervous system (CNS) targets. With Novartis’ option exercise on two targets, Voyager now receives an additional $25 million option exercise payment and is eligible to receive up to $600 million in associated potential development, regulatory, and commercial milestone payments, as well as mid- to high-single-digit tiered royalties based on net sales of Novartis products incorporating the licensed capsids. In addition, over the next 18 months, Novartis retains the right to expand the agreement to include options to license capsids for up to two additional rare CNS targets, subject to their availability, for a fee of $18 million per target. Under such an expansion, Voyager would be eligible to receive a $12.5 million license option exercise fee for each tar...