Spark Therapeutics (US) has paid over €13.5M for Genable Technologies (Ireland) and its gene therapy for a degenerative eye disease which progresses to blindness.
Spark Therapeutics is one of the players in the re-emerging field of Gene Therapy (which is already establishing records like the most expensive drug). It focuses on debilitating genetic diseases, like inherited retinal dystrophies (IRDs), neurodegenerative and blood disorders.
It will now add a new candidate to its IRD pipeline, RhoNova, which was in preclinical development with the collaboration with Genable Technologies since 2014.
Spark has now decided to go all the way and buy the Irish Biopharma for $6M cash and $9.15M worth of Spark’s stocks (265,000 shares), amounting to about €13.76M.
Genable has an innovative approach to the treatment of autosomal dominant diseases. For these types of genetic diseases, having only one copy of a mutated gene can lead to developing symptoms (even if the other copy is healthy).