May 17 Quick Takes: Abeona licenses gene therapy to Ultragenyx

Ultragenyx Inc. (NASDAQ:RARE) added another gene therapy to its growing portfolio via a deal with Abeona Therapeutics Inc. (NASDAQ:ABEO). The rare disease company will gain ABO-102, which is in the pivotal Phase I/II Transpher A trial to treat mucopolysaccharidosis IIIA (MPS IIIA, Sanfilippo type A syndrome). Abeona is eligible for $30 million in commercial milestones, plus tiered royalties up to 10%. Ultragenyx will assume development of the therapy as UX111; it uses a AAV9 vector to deliver the SGSH gene.

Evotec SE (Xetra:EVT; NASDAQ:EVO) granted Sernova Corp. (TSX-V:SVA; OTCQB:SEOVF) an option to exclusively license Evotec’s iPSC-derived beta cells for development within Sernova’s implantable Cell Pouch device platform to treat insulin-dependent Type I or Type II diabetes patients. Evotec will make a €20 million ($20.8 million) investment in Sernova. The partners will co-fund the preclinical development of the program, after which Sernova will have the right to exercise its option for a global license to the beta cells prior to an IND acceptance for the therapy. Evotec will then have the option to contribute to funding clinical development, which will determine the level of profit-sharing between the two companies following commercialization. In conjunction with the deal, Evotec’s CSO Cord Dohrmann will join Sernova’s board. ...