February 14, 2024
LONDON and NEW YORK — MeiraGTx Holdings, a vertically integrated, clinical stage gene therapy company, announced the achievement of the first milestone payment of $50 million under the asset purchase agreement the company entered into with Janssen Pharmaceuticals, Inc. (J&J), a Johnson & Johnson company, in December 2023. The agreement relates to botaretigene sparoparvovec (bota-vec, formerly AAV-RPGR) for the treatment of X-linked retinitis pigmentosa (XLRP).
“We are very happy to announce that the LUMEOS extension study has been initiated, which triggered the $50 million milestone payment to MeiraGTx under the asset purchase agreement with J&J,” said Alexandria Forbes, PhD, president and chief executive officer of MeiraGTx.
Agreements Related to Bota-Vec:
- MeiraGTx anticipates receiving an additional $15 million in near-term milestone payments later in 2024.
- The company will receive up to a further $285 million upon first commercial sales of bota-vec in the U.S. and EU and for manufacturing technology transfer.
- MeiraGTx also entered into a commercial supply agreement with J&J for bota-vec manufacturing, which the company anticipates will generate additional revenue during the product launch.
