Ultragenyx Pharmaceutical (RARE) and Arcturus Therapeutics (ARCT+37.7%) say they will expand their licensing deal and research collaborationto discover and develop mRNA, DNA and siRNA therapeutics for up to 12 rare disease targets.
In addition to making a $6M cash upfront payment to ARCT, RARE agrees to purchase 2.4M ARCT common shares at $10/share with an option to buy an additional 600K shares at $16 each, making it ARCT’s largest shareholder; RARE General Counsel Karah Parschauer will join ARCT’s board.
The first disclosed indication under the original collaboration between the two companies is Glycogen Storage Disease Type III, and an Investigational New Drug application for the mRNA therapeutic program, UX053, is expected to be filed in 2020.
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