Ultragenyx, Solid Biosciences in pact for Duchenne gene therapies

• Ultragenyx Pharmaceutical and Solid Biosciences have entered a collaboration and license agreement to focus on the development and commercialization of new gene therapies for Duchenne muscular dystrophy.
• Solid has granted Ultragenyx an exclusive license for any pharmaceutical product that expresses Solid’s proprietary microdystrophin construct from AAV8 and variants thereof in clade E for use in the treatment of Duchenne and other diseases resulting from lack of functional dystrophin, including Becker muscular dystrophy
• Ultragenyx has made a $40M investment in Solid and has agreed to pay up to $255M in milestone payments, as well as tiered royalties on worldwide net sales at low double digit to mid-teens percentages.
• Upon achievement of proof-of-concept, Solid has the right to opt in to co-fund collaboration programs in return for participation in a profit share or increased royalty payments.
• Solid Biosciences (NASDAQ:SLDB) soars 27% in premarket on robust volume. Ultragenyx Pharmaceutical (NASDAQ:RARE) is up 2% on light volume.
• https://seekingalpha.com/news/3625289-ultragenyx-solid-biosciences-in-pact-for-duchenne-gene-therapies