Novartis, Spark Reach Agreement for Vision Loss Gene Therapy

By FeaturesDow Jones Newswires

Novartis AG (NOVN.EB) has reached a licensing agreement with Spark Therapeutics Inc. (ONCE) to commercialize outside the U.S. a gene therapy for a form of vision loss, the companies said on Wednesday.

Under the agreement, Novartis will make an upfront cash payment of $105 million, plus up to $65 million in future "cash milestone payments based on near-term European Regulatory Agency (EMA) regulatory approval and initial sales outside the U.S. in certain markets," Spark said.

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"Spark Therapeutics is also entitled to receive royalty payments on net sales of investigational voretigene neparvovec outside the U.S," it said.

The agreement covers development, registration and commercialization rights to voretigene neparvovec, known as Luxturna, outside the U.S., while Spark maintains exclusive rights in the U.S. and is responsible for obtaining the EU regulator's approval.

The FDA approved the drug in December, while an application to the EU regulator was filed in July.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

January 25, 2018 01:35 ET (06:35 GMT)

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