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NeuroVive licenses chemistry for inherited vision loss treatment

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.