REGENXBIO (RGNX) and Nippon Shinyaku said Tuesday that they have formed a partnership for the development and commercialization of RGX-121 as a potential treatment for Hunter syndrome and RGX-111 for Hurler syndrome.
Under the terms of the deal, REGENXBIO will receive $110 million at closing and up to $700 million in additional payments if certain milestones are achieved, the companies said.
The payments include $40 million in potential development and regulatory milestones and $660 million in potential sales milestones, the companies said.
Additionally, REGENXBIO will also receive double-digit royalties on net sales in the US and Asia, the companies said.
Nippon Shinyaku will commercialize both products in the US and Asia while future clinical development of RGX-121 and RGX-111 will be led by REGENXBIO, the companies said.
Both Hunter's and Hurler's disease are rare genetic disorders leading to skeletal deformities and mental stagnation.
Shares of REGENXBIO rose more than 24% in Tuesday's premarket activity.
Price: 8.64, Change: +1.69, Percent Change: +24.32
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