AVROBIO Agrees To Sell Cystinosis Gene Therapy Program To Novartis For $87.5M
Portfolio Pulse from Benzinga Newsdesk
AVROBIO has agreed to sell its cystinosis gene therapy program to Novartis for $87.5 million. The deal will allow AVROBIO to focus on its core pipeline and Novartis to expand its gene therapy portfolio.
May 22, 2023 | 11:06 am
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POSITIVE IMPACT
AVROBIO's sale of its cystinosis gene therapy program to Novartis for $87.5M will enable the company to focus on its core pipeline.
The sale of the cystinosis gene therapy program will provide AVROBIO with additional funds to invest in its core pipeline. This could lead to the development of new therapies and potential growth for the company, positively impacting its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Novartis' acquisition of AVROBIO's cystinosis gene therapy program for $87.5M will expand its gene therapy portfolio.
The acquisition of the cystinosis gene therapy program will allow Novartis to expand its gene therapy portfolio, potentially leading to new revenue streams and growth for the company. This could have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100