Neurocrine Biosciences Inc. entered an agreement with Voyager Therapeutics Inc. that could bring the developer of central nervous system disease treatments as much as $4.4 billion.
(Bloomberg) — Neurocrine Biosciences Inc. entered an agreement with Voyager Therapeutics Inc. that could bring the developer of central nervous system disease treatments as much as $4.4 billion.
Under the partnership, Voyager will receive $175 million upfront including cash and a $39 million equity investment, the companies said Monday in a statement. Voyager is also eligible for as much as $1.5 billion for meeting development goals and another $2.7 billion for hitting commercial objectives.
Voyager rose as much as 28% before closing 0.6% higher to $7 a share. Neurocrine’s fell as much as 13%.
Under the strategic partnership announced in a release on Monday, the biotech companies will work to develop gene therapies for multiple neurological diseases, including Parkinson’s disease. The companies will also collaborate on three new gene-therapy programs directed to rare central nervous system disease targets.
Voyager’s gene therapy approach “has the potential to play a transformational role in the future treatment of Parkinson’s disease and other serious neurological diseases,” said Jude Onyia, Neurocrine’s chief scientific officer.
(Corrects headline and first two paragraphs to include potential commercial milestone payments. Updates shares.)
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