CombiGene Shares More Than Double on $328.5 Million Epilepsy Therapy Deal
October 12 2021 - 7:23AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Shares in Swedish biotech company CombiGene AB more
than doubled Tuesday after it said that it has entered into an
exclusive collaboration and licensing agreement with Roche Holding
AG subsidiary Spark Therapeutics for CG01, CombiGene's gene therapy
developed for epilepsy.
Under the deal, Spark will have the exclusive worldwide license
to develop, manufacture and commercialize CG01, with CombiGene
receiving up to $328.5 million excluding royalties, with $8.5
million upon signing, as well as up to $50 million at several
preclinical and clinical milestones.
CombiGene said its CG01 drug candidate is being developed to
treat drug-resistant focal epilepsy, the most common form of
epilepsy in adult epileptics.
"CombiGene's ambition is that CG01 will become the world's first
curative treatment, compared to current treatments that only treat
the symptoms."
The development of CG01 is in a late preclinical stage with the
aim that clinical studies can be started next year. The company's
production platform, developed together with its partners Cobra
Biologics and Viralgen, is scalable up to full commercial
production, it added.
CombiGene shares traded as high as SEK14.10 on Tuesday, from the
morning's opening price of SEK6.29.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
October 12, 2021 07:08 ET (11:08 GMT)
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