Dynacure, a 2016 spin-off from the Institute of Genetic and Molecular and Cellular Biology in France, entered into a license agreement with Ionis Pharmaceuticals DNM2-2.5Rx, an antisense drug for the treatment of centronuclear myopathy, a group of rare progressive muscle disorders.
Centronuclear myopathies are characterized by muscle weakness that can range from mild to severe. They care caused by mutations in the DNM2 gene. These myopathies can become apparent at birth, during childhood or in adulthood and can have a wide range of severity.
Under terms of the agreement, Dynacure paid Ionis a $5 million license fee in the form of Dynacure stock. Dynacure is responsible for all development and commercialization responsibilities for the program. Ionis is eligible to receive additional cash or equity of up to more than $205 million in milestone payments. In addition, Ionis is eligible to receive royalties on future product sales of the drug under this collaboration.
“The identification of a development candidate is an important step for our alliance with Ionis and the Dynacure team,” said Stephane van Rooijen, chief executive officer of Dynacure. “Importantly, this development puts us one step closer to potentially finding a new treatment for patients suffering with CNM, a devastating disease with no adequate treatments.”
November 10, 2017