Regeneron Pharmaceuticals and Avalanche Biotechnologies agreed to collaborate in the discovery and development of new gene therapy products for ophthalmologic diseases. Tarrytown, NY-based Regeneron says it will work with Avalanche Biotechnologies on a slate of new ophthalmology programs, combining the biotech’s vector technology with Regeneron’s molecules.
Regeneron will get global rights to each product that advances to clinical development stage. The deal, which covers as many as eight therapeutic targets, entitles Avalanche to an undisclosed upfront fee and as much as $640 million in milestone fees plus sales royalties.
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