MeiraGTx Receives $30 Million Strategic Investment from Sanofi
October 30, 2023
Rare Daily Staff
Gene therapy focused biotech MeiraGTx said that Sanofi has made a $30 million strategic investment in the company through the purchase of 4.0 million ordinary shares at a price of $7.50 per share.
In return, Sanofi will receive a right of first negotiation for the use of MeiraGTx’s Riboswitch gene regulation technology for certain Immunology and Inflammation, and central nervous system targets, as well as for GLP-1 and other gut peptides for metabolic disease, and for MeiraGTx’s phase 2 Xerostomia program.
“We view Sanofi’s interest in our Riboswitch gene regulation technology and our clinical Xerostomia program as further validation of the broad potential of our vertically integrated platform and we are excited to work with Sanofi as we advance these programs,” said Alexandria Forbes, president and CEO of MeiraGTx.
Forbes also noted that MeiraGTx has been approached by multiple parties with strategic interest in different assets of the company and is actively pursuing these options
MeiraGTx has six programs in clinical development and a broad pipeline of preclinical and research programs. It has core capabilities in viral vector design and optimization and gene therapy manufacturing, and a gene regulation platform technology that allows precise, dose responsive control of gene expression by oral small molecules with dynamic range that can exceed 5000-fold. The company’s initial focus is on three distinct areas of unmet medical need: ocular diseases, including both inherited retinal diseases as well as large degenerative ocular diseases, neurodegenerative diseases, and severe forms of xerostomia.
Photo: Alexandria Forbes, president and CEO of MeiraGTx
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