Voyager Therapeutics Shares Rally Premarket on Novartis Pact
March 08 2022 - 06:34AM
Dow Jones News
By Colin Kellaher
Shares of Voyager Therapeutics Inc. jumped 15% in premarket
trading Tuesday after the gene-therapy company said it inked a
license option agreement potentially worth more than $1.7 billion
with Swiss drugmaker Novartis AG.
Cambridge, Mass.-based Voyager said that under the deal,
Novartis has the option to license novel adeno-associated virus
capsids generated from Voyager's RNA-driven Tracer platform for
potential use with three undisclosed central-nervous-system
targets, along with options to access capsids for two more targets
to be agreed on in the future.
Voyager said it will receive an upfront payment of $54 million
and will be eligible for up to $1.7 billion in option exercise fees
and milestone payments, along with sales-based royalties.
The company last year signed a similar agreement with Pfizer
Inc. targeting neurologic and cardiovascular diseases.
Shares of Voyager, which closed Monday at $3.93, were recently
up 15% to $4.52 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 08, 2022 06:19 ET (11:19 GMT)
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