AveXis and REGENXBIO Announce New Exclusive Worldwide Licenses for the Treatment of Two Rare Neurological Monogenic Disorders Using NAV AAV9 Vector
REGENXBIO grants AveXis new licenses to NAV AAV9 vector for the development and commercialization of treatments for Rett syndrome (RTT) and amyotrophic lateral sclerosis (ALS)
Chicago, Ill. and Rockville, Md. (June 7, 2017) AveXis, Inc. (NASDAQ: AVXS) and REGENXBIO Inc. (NASDAQ: RGNX) today announced an exclusive worldwide license agreement for AveXis to develop and commercialize gene therapy treatments using REGENXBIOs NAV AAV9 vector to treat two rare neurological monogenic disorders: Rett syndrome (RTT) and a genetic form of amyotrophic lateral sclerosis (ALS) caused by mutations in the superoxide dismutase 1 (SOD1) gene.
Under the terms of the license agreement, REGENXBIO will receive an upfront payment upon execution, ongoing fees, milestone payments and royalties on net sales of products incorporating the NAV AAV9 vector.
Building on our experience and the success we have seen to date with the use of REGENXBIOs NAV AAV9 vector in our spinal muscular atrophy clinical trials, this new license agreement reflects progress
on executing our corporate strategy and our vision of becoming the leader in the treatment of rare and life-threatening neurological genetic diseases, said Sean Nolan, President and Chief Executive Officer of AveXis. While we remain intensely focused on the development and commercialization of AVXS-101 for the treatment of spinal muscular atrophy, we are excited by the potential for gene therapy to address the needs of patients with RTT and ALS two devastating diseases for which there are no cures and insufficient existing treatments.
This license agreement for our NAV AAV9 vector highlights the strength of our relationship with our existing NAV Technology Licensee, AveXis, and our commitment to bringing important new NAV-based gene therapies to patients with severe diseases with significant unmet medical need, said Kenneth T. Mills, President and Chief Executive Officer of REGENXBIO. As a leader in AAV-based gene therapy, REGENXBIO continues to selectively and strategically license our NAV Technology Platform for specific vector and indication combinations in a way that allows us to maintain our focus on internal product development while at the same time advancing the overall field by expanding the pipeline of NAV-based gene therapies.
Preclinical data demonstrating promising efficacy and safety of gene therapy treatments for RTT and ALS using NAV AAV9, generated by AveXis Chief Scientific Officer Dr. Brian Kaspar at Nationwide Childrens Hospital, has been licensed by AveXis. AveXis intends to move forward with initiating IND-enabling