Sarepta Therapeutics Inc. signed investment and licensing agreements with privately held Lacerta Therapeutics Inc. for multiple gene therapy programs.
Under the agreement, Sarepta will make a $30 million equity investment in Lacerta and get a license to up to three central nervous system-targeted gene therapy programs, including exclusive rights to the gene therapy candidate for the metabolic disorder Pompe disease and options to two additional candidates.
Cambridge, Mass.-based Sarepta said that the transaction will expand its gene therapy pipeline to up to 11 unique candidates.
Alachua, Fla.-based Lacerta will manage the majority of preclinical development, while Sarepta will lead clinical development and commercialization of the product candidates.
Sarepta will owe development and sales-based milestones to Lacerta, along with royalties on net sales.