Regeneron and Avalanche team up

Regeneron Pharmaceuticals (REGN) and Avalanche Biotechnologies ink a collaboration deal to discover, develop and commercialize gene therapy products focused on ophthalmologic diseases. The agreement covers novel gene therapy vectors and proprietary molecules discovered jointly by the partners and developed by Avalanche's Ocular BioFactory, a gene therapy discovery platform based on adeno-associated virus technology.

Avalanche will receive an upfront cash payment, milestone payments of up to $640M and royalties of global net sales of post-approval products.

Regeneron will have exclusive worldwide rights for each product it moves forward in clinical development. It also has a time-limited right of first negotiation for certain rights to AVA-101, Avalanche's vascular endothelial growth factor gene therapy product for wet age-related macular degeneration. The rights negotiation time window starts when the ongoing Phase 2a clinical trial ends.

The collaboration covers eight therapeutic targets.

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