Axovant to spend up to $187.5 million on BB-301 and other rights

9 July 2018

Shares of Australian biotech firm Benitec Biopharma (ASX: BLT) more than doubled after the company announced a lucrative licensing deal for a rare genetic disorder affecting the muscles of the upper eyelids and the throat with USA-based Axovant Sciences (Nasdaq: AXON).

Axovant Sciences has received exclusive global rights for BB-301 (now named AXO-AAV-OPMD) intended for the treatment of oculopharyngeal muscular dystrophy (OPMD), and has also entered into a fully funded research collaboration for the development of five additional gene therapy products in neurological disorders.

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