Sweden's NeuroVive Pharmaceutical AB said it licensed chemistry for its Leber's hereditary optic neuropathy treatment to California-based BridgeBio Pharma LLC.
The deal, which has a total transaction value of about $60 million, covers a subset of succinate prodrug chemistry under NeuroVive's NVP015 clinical program. The amount includes research funding, milestone payments and royalties.
Leber's hereditary optic neuropathy, or LHON, is a genetic condition that causes loss of vision.
BridgeBio said it launched a unit, called Fortify Therapeutics, to further develop the chemistry it acquired for use as local treatment of LHON, with an initial financial commitment of $20 million.
NeuroVive said development of NVP015 for other mitochondrial disorders will continue.