MeiraGTx partnering with Janssen to develop, market retinal disease therapy

MeiraGTx (MGTX) has entered into a broad strategic collaboration with Janssen Pharmaceuticals, one of the Janssen Pharmaceutical Companies of Johnson & Johnson (JNJ), to develop and commercialize gene therapies for the treatment of inherited retinal diseases. The two companies will collaborate in the clinical development of MeiraGTx’s IRD pipeline, including product candidates for achromatopsia, or ACHM, caused by mutations in either CNGB3 or CNGA3 and X-linked retinitis pigmentosa. In addition, MeiraGTx and Janssen are entering into a research collaboration covering MeiraGTx’s pipeline of pre-clinical programs for IRDs and also entering into a research collaboration to further develop AAV manufacturing technology. MeiraGTx will receive $100M in cash as an upfront payment and is eligible to receive additional payments for achieving development and sales milestones related to its CNGB3, CNGA3 and XLRP programs of up to $340M, and untiered royalties of 20% of annual net sales for the CNGB3, CNGA3 and XLRP programs. Janssen has agreed to fund all clinical development and commercialization costs for these programs. MeiraGTx and Janssen are also entering into a research collaboration to develop a pipeline of IRD gene therapy candidates; a significant portion of the costs of the research collaboration will be paid by Janssen. Janssen has the right to opt-in to programs coming out of this research collaboration at the time of clearance of an IND application by the FDA. MeiraGTx will receive an opt-in payment, development milestones and a high teens untiered royalty on annual net sales of commercialized products coming out of this collaboration. The transaction is expected to close in Q1.

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