It’s unclear if ProQR will continue to try to sell off its eye disease candidates.
In a reversal of fortunes, ProQR Therapeutics’ ophthalmology asset sale to Laboratoires Théa has been cancelled after ProQR failed to meet the conditions of the deal.
In August, Dutch biotech ProQR announced its plan to offload RNA therapies sepofarsen and ultevursen to eye care company Théa for 12.5 million euros ($13.7 million) upfront and up to 135 million euros ($141.9 million) in biobucks. ProQR had initially put the two eye disease candidates up for sale about a year ago.
Sepofarsen is designed to restore vision in people with the severe inherited retinal diseaseLeber congenital amaurosis 10. The candidate failed to improve vision in a phase 2/3 trial, and European regulators asked the biotech to run an additional pivotal study before seeking approval.
However, Théa has now terminated its purchase of the eye disease candidates, according to a Sept. 27 release from ProQR. The deal had been expected to close this quarter.
The sale depended on Théa hiring several key ophthalmology personnel from ProQR to help build out a team specializing in inherited retinal disorders. However, some of the ProQR employees decided not to work at Théa, so the conditions weren’t met.
It’s unclear if ProQR will continue to try to sell the eye disease candidates, though the company’s focus is currently on targets for cholestatic and cardiovascular diseases, alongside its genetic medicine partnership with EliLilly, ProQR founder and CEO Daniel de Boer said in the release.
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