Novartis stops work on gene therapy acquired in Gyroscope deal
AcquisitionGene TherapyPhase 2Cell Therapy
Novartis has stopped work on a gene therapy candidate it acquired a little under two years ago, according to an investor in the company the Swiss drugmaker bought.
The decision to discontinue research follows a recommendation from a data monitoring committee overseeing testing of the therapy, known as GT005 and for the eye condition geographic atrophy. After reviewing available data, including from a Phase 2 study, the group concluded development shouldn’t move forward.
Novartis acquired GT005 in 2021 through its acquisition of U.K.-based biotechnology company Gyroscope Therapeutics from life sciences investment company Syncona. Novartis paid $800 million upfront in the deal, and pledged another $700 million if certain unspecified milestones were met. The acquisition was completed in February 2022, and also gave Novartis access to delivery technology.
Novartis, which sells the successful spinal muscular atrophy treatment Zolgensma, has invested heavily in the gene therapy field. It’s shown particular interest in genetic medicines for the eye, acquiring two other biotechs, Vedere Bio and Arctos Medical, prior to its deal for Gyroscope.
The Swiss drugmaker has also explored gene therapies for blood, brain and rare diseases. Yet, like others working in gene therapy, Novartis has hit roadblocks, too. Earlier this year, the company discontinued work on a sickle cell therapy it was developing with Intellia Therapeutics.
Vedere Bio II, the successor to the startup Novartis bought in 2020, closed down in April after disappointing results from preclinical testing.
Still, there have been successes in gene therapy this year. Sarepta Therapeutics and BioMarin Pharmaceutical won long-sought U.S. approvals for treatments of Duchenne muscular dystrophy and hemophilia A, respectively.
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