BioCentury
ARTICLE | Company News

Sarepta gets gene therapy candidate, Lysogene extends runway

October 19, 2018 7:35 PM UTC

Lysogene S.A. (Euronext:LYS) granted Sarepta Therapeutics Inc. (NASDAQ:SRPT) exclusive, ex-European rights to LYS-SAF302, an adeno-associated virus (AAV)-mediated gene therapy. Sarepta will pay $15 million up front and make a $2.5 million equity investment in Lysogene, which is also eligible for up to $125 million in milestones, plus royalties. Lysogene said the deal extends the company’s runway through the next two years.

The equity investment comprises the sale of 950,606 shares at $2.63 per share. The price is a 49% premium to Lysogene's close of $1.76 on Oct. 12 before the deal was announced...