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Novartis acquires Gyroscope, an ophthalmic gene therapy company, for $1.5 billion

 Last Update: 2022-01-10
 Source: Internet
 Author: User

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On December 22, Novartis announced an agreement with Gyroscope Therapeutics, a British ophthalmic gene therapy company, to acquire the issued shares of the latter with a down payment of US$800 million, potential mileage of US$700 million, and a total transaction value of US$1.

The core product GT005 of Gyroscope Therapeutics is a one-time gene therapy based on AAV2 vector, which is intended to be developed to treat age-related macular degeneration (AMD) secondary geographic atrophy

GT005 can restore the balance of the over-activated complement system by promoting the secretion of complement factor I (CFI), relieve eye inflammation, and protect eyesight

Age-related macular degeneration (AMD) is an eye disease that affects people's daily activities that require clear central vision (such as reading).

Gyroscope Therapeutics is currently conducting a phase I/II and two phase II studies to evaluate the efficacy and safety of GT005 on AMD secondary geographic atrophy

Novartis continues to increase its deployment in ophthalmology and gene therapy

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