Sarepta Therapeutics (NASDAQ:SRPT) will collaborate with privately held StrideBio to develop up to eight AAV-based gene therapies for central nervous system and neuromuscular disorders.
Under the terms of the agreement, StrideBio will receive $48M upfront in cash and SRPT common stock, milestones and royalties on net sales.
Sarepta will have an exclusive option to in-license up to four programs. It may secure an additional exclusive license for up to four additional targets by paying another upfront fee of $42.5M plus milestones and royalties and has agreed to invest in StrideBio’s next financing round.
SrideBio has the option to co-develop and co-commercialize one target.
The companies will also investigate re-dosing strategies related to AAV-delivered gene therapy (restricted to single administration at present).
Shares down 1% premarket.
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