Passage Bio Announced Out-Licensing of Three Pediatric Lysosomal Storage Disease Programs to GEMMA Biotherapeutics for $20M Initial Payments and Up to $114M in Milestones, Plus Future Royalties
Portfolio Pulse from charles@benzinga.com
Passage Bio (NASDAQ:PASG) has out-licensed three pediatric lysosomal storage disease programs to GEMMA Biotherapeutics for $20M in initial payments and up to $114M in milestones, plus future royalties. GEMMABio will assume financial obligations and Passage Bio will support the transition.
August 01, 2024 | 11:13 am
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Passage Bio has out-licensed three pediatric lysosomal storage disease programs to GEMMA Biotherapeutics for $20M in initial payments and up to $114M in milestones, plus future royalties. This deal provides immediate revenue and potential future income streams.
The out-licensing agreement provides Passage Bio with immediate revenue and potential future income from milestones and royalties. This could positively impact the stock price in the short term as it strengthens the company's financial position.
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