MeiraGTx Enters into a Strategic Collaboration with Hologen AI to Expedite Phase 3 Development of AAV-GAD for Parkinson’s Disease and Industrialize MeiraGTx’s Proprietary Manufacturing Process
- This deal will significantly strengthen MeiraGTx's financial position. - The transaction will also enhance the company's ability to bring novel gene therapies to market. - The accelerated development of its pipeline products is expected. - MeiraGTx is a clinical-stage gene therapy company. - The company focuses on developing treatments for patients living with serious diseases.
MeiraGTx and Hologen Announce Strategic Collaboration
MeiraGTx will receive $200 million in upfront cash consideration. MeiraGTx and Hologen will form a joint venture, Hologen Neuro AI Ltd, with an additional $230 million committed capital from Hologen to fund 100% of the development of AAV-GAD for Parkinson’s disease through to commercialization, as well as other potential pipeline products. MeiraGTx will enter into clinical and commercial supply agreements with Hologen Neuro AI Ltd to manufacture AAV-GAD and other locally delivered CNS genetic medicines. Hologen will also fund a portion of MeiraGTx’s manufacturing operations and will own a minority stake in MeiraGTx’s manufacturing subsidiary.
About MeiraGTx and Hologen Collaboration
MeiraGTx Holdings plc (Nasdaq: MGTX), a vertically integrated, clinical stage genetic medicines company, today announced a broad strategic collaboration with Hologen Limited, a world-leading developer of multi-modal generative AI foundation models of real-world clinical data for clinical medicine and pharmaceutical drug development. MeiraGTx will receive $200 million in upfront cash at closing and MeiraGTx and Hologen are forming a joint venture, called Hologen Neuro AI Ltd.
The Joint Venture
In addition to the $200 million upfront payment to MeiraGTx, the joint venture, Hologen Neuro AI Ltd, will be funded with committed capital of up to $230 million from Hologen to fully finance the development of AAV-GAD for the treatment of Parkinson’s disease through to commercialization, as well as funding earlier stage clinical programs in the CNS, including AAV-BDNF for genetic obesity. Hologen will contribute its proprietary multi-modal generative foundation models (LMMs) to the joint venture.
Impact of the Collaboration
In forming this joint venture, MeiraGTx and Hologen have created the first neuro-AI clinical drug development company in which pioneering technologies from both companies will be deployed to transform the discovery and development of therapies targeting CNS circuitry in neurodegenerative and neuropsychiatric disorders. MeiraGTx will retain 30% ownership in the Hologen Neuro AI Ltd joint venture and will lead all clinical development and manufacturing.
Collaboration Details and Financial Terms
MeiraGTx will receive $200 million in upfront cash consideration at closing. MeiraGTx and Hologen will form a joint venture, Hologen Neuro AI Ltd, with additional committed funding into the joint venture of up to $230 million from Hologen to finance the development of the AAV-GAD program in Parkinson’s disease through to commercialization, as well as other locally-delivered therapies to the CNS. The joint venture, Hologen Neuro AI Ltd, will use Hologen’s proprietary multi-modal generative foundation models (LMMs). MeiraGTx will hold a 30% ownership in the joint venture and will lead all clinical development and manufacturing.
About MeiraGTx
MeiraGTx (Nasdaq: MGTX) is a vertically integrated, clinical-stage genetic medicines company with a broad pipeline with four late-stage clinical programs. Each of these programs use local delivery of small doses resulting in disease modifying effects in both inherited and more common diseases, in the eye, Parkinson’s disease and radiation-induced xerostomia. MeiraGTx uses its innovative technology in optimization of capsids, promoters and novel translational control elements to develop best in class, potent, safe viral vectors. MeiraGTx’s broad pipeline is supported by end-to-end in-house manufacturing.
About Hologen
Hologen Limited is a world-leading developer of generative AI capabilities for clinical medicine and pharmaceutical drug development. Hologen builds the largest, most expressive, accurate, and equitable generative AI models in healthcare, using large real-world clinical and research data sets from multiple modalities.
Forward Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact