Sarepta signs license agreement with Lysogene for LYS-SAF302
Sarepta announced it has signed a license agreement with Lysogene for the development of a gene therapy, LYS-SAF302, to treat Mucopolysaccharidosis type IIIA, or MPS IIIA. Under the terms of the agreement, Sarepta will also have certain option rights to an additional CNS-targeted gene therapy candidate. Under the terms of the license, Lysogene shall be responsible for completion of the pivotal trial, which is set to commence in Q4. Sarepta shall have exclusive commercial rights to LYS-SAF302 in the United States and all territories outside of Europe, and Lysogene will retain exclusive commercial rights to LYS-SAF302 in Europe. Sarepta will be responsible for global manufacturing of LYS-SAF302 and will supply Lysogene for its territory. Sarepta will make committed cash payments to Lysogene totaling $26M plus the purchase of Lysogene equity for $2.5M. In 2019, Sarepta will pay Lysogene up to an additional $19M. Payments from Sarepta to Lysogene for all items, if all milestones are met, would total approximately $125M plus royalties. The financial terms of the agreement significantly extend Lysogene's cash runway, enabling the company to continue the development of its other assets.