Opus Genetics acquires two gene therapy candidates from Iveric Bio
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Opus Genetics has acquired the rights to develop two preclinical-stage AAV-based gene therapy product candidates for inherited retinal diseases from Iveric Bio, according to a company press release.
The gene therapy candidates will reportedly address bestrophin-1 (BEST1)-related inherited retinal diseases and rhodopsin-mediated autosomal dominant retinitis pigmentosa (RHO-adRP).
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Iveric received an upfront payment of $500,000 and high single-digit percentage ownership of Opus under the terms of the deal, while Opus will take over the global research, development and commercialization of BEST1 and RHO-adRP programs. Additionally, Iveric will retain certain rights related to the potential future commercialization of gene therapy products for BEST1 and RHO-adRP under certain circumstances and is also eligible to receive development and regulatory milestone payments, sales milestone payments and a low single-digit earnout on net sales of the products, according to the release.
Opus anticipates filing an investigational new drug application for BEST1 in the second half of 2023.
“The addition of these innovative BEST1 and RHO-adRP programs significantly increases the patient population that could benefit from Opus therapies and complements our existing pipeline of gene therapies for inherited retinal diseases,” Ben Yerxa, PhD, CEO of Opus said in the release. “Opus is building an engine for addressing multiple IRDs, and deals like this one help us achieve our desire for sustainable growth of our infrastructure, operations, scientific expertise and ultimately our patient impact, with the goal of at least one IND per year.”
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