Editas, Adverum partner to treat retinal diseases

Editas Medicine Inc. (NASDAQ:EDIT) and Adverum Biotechnologies Inc. (NASDAQ:ADVM) will collaborate to develop gene editing-based treatments for up to five inherited retinal diseases. The deal combines Adverum's next-generation adeno-associated viral (AAV) vectors with Editas' genome editing technologies.

Editas will pay Adverum $1 million up front and will fund preclinical studies. Adverum also granted Editas an option to license its vector technology, which Editas may exercise for $1 million per indication. Adverum is eligible for milestones and royalties on licensed products. ...