By Denny Jacob
MeiraGTx Holdings shares rose 13% in premarket trading on a collaboration with Hologen that will bring in a cash infusion and create a joint venture.
Shares were trading around $7.28. The stock is up 8.6% over the last year.
MeiraGTx will receive $200 million as part of the collaboration. The two sides will also form a JV called Hologen Neuro AI, which will be funded with committed of up to $230 million from Hologen to fully finance the development of a treatment for Parkinson's disease, among other efforts.
MeiraGTx will retain a 30% stake in the joint venture and will lead all clinical development and manufacturing.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
March 13, 2025 08:11 ET (12:11 GMT)
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