Astellas and AviadoBio Announce Exclusive Option and License Agreement for Gene Therapy AVB-101 Targeting Frontotemporal Dementia and Other Indications [Yahoo! Finance]
ASTELLAS PHARMA UNSP/ADR (ALPMY)
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Source: Yahoo! Finance
AviadoBio receives $20 million equity investment, up to $30 million in upfront payments and is eligible to receive up to $2.18 billion in license fees and milestone payments plus royalties if Astellas exercises its option LONDON and TOKYO Oct. 8, 2024 /PRNewswire/ -- AviadoBio Ltd. ("AviadoBio") and Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura , "Astellas") today announced an exclusive option and license agreement for AVB-101, an investigational, AAV-based gene therapy in Phase 1/2 development for patients with frontotemporal dementia with progranulin mutations (FTD-GRN). FTD is a devastating form of early-onset dementia that typically leads to death within three to 13 years from diagnosis. People with FTD commonly experience a rapid decline in executive function (attention control, working memory, problem-solving etc.), uncharacteristic behaviors, loss of language, apathy, and reduced mobility. It is an important cause of dementia in those under the age of 6
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