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ARTICLE | Company News

BridgeBio launches mitochondrial-focused subsidiary

June 22, 2018 3:35 PM UTC

BridgeBio Pharma LLC (Palo Alto, Calif.) launched Fortify Therapeutics Inc. June 18 with $20 million and an exclusive license to compounds from NeuroVive Pharmaceutical AB (SSE:NVP; OTCQX:NEVPF) to treat Leber’s hereditary optic neuropathy.

Fortify will develop compounds derived from NeuroVive's NVP015 succinate prodrug program for localized treatment of LHON. Fortify has exclusive rights to the compounds, which were selected for properties that make them suitable for delivery to the eye. The partners said the total value of the deal is about $60 million, including research funding and potential milestones and single-digit royalties. BridgeBio declined to provide financial terms...

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