Deals
Biogen Opens Gene Therapy Partnership Worth About $1 Billion
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Biogen Inc. will broaden its gene therapy pipeline by signing a partnership with Applied Genetic Technologies Corp. worth about $1 billion to develop ophthalmology treatments.
AGTC will get an upfront payment of $124 million, which includes a $30 million equity investment, according to a statement on Thursday. Biogen will also make additional payments for development and sales milestones that could make the agreement worth more than $1 billion, the companies said.