Regeneron Pharmaceuticals and Avalanche Biotechnologies announced a collaboration agreement centered on the development of novel ophthalmic genetic therapy products, according to a press release.
Avalanche’s AVA-101 is currently undergoing a phase 2a trial for wet age-related macular degeneration. Avalanche also has a proprietary adeno-associated virus-based gene therapy discovery and development technology called the Ocular BioFactory platform, according to the release.
The Ocular BioFactory platform technology is optimized for ophthalmology and utilizes a directed evolution approach to generate novel drug candidates.
Regeneron will make an upfront cash payment and contingent payments up to $640 million.
Regeneron gains exclusive global rights for each product in eight therapeutic target areas under development and has a right of first negotiation for certain properties of AVA-101, the release said.