Voyager Therapeutics Inc (NASDAQ: VYGR) announced that the group had inked a license option agreement that allows Pfizer Inc. (NYSE: PFE). As news of the deal became official and was doing the rounds, the share value of Voyager spiked 55% on Wednesday morning.
Insight about the agreement
The agreement gives Pfizer the option to sanction and permit usage of novel capsids, which is obtained from Voyager’s RNA-inspired TRACERTM screening technology. TRACERTM technology is a part of Pfizer’s efforts to design, develop, manufacture, and commercialize gene therapies. Two undisclosed transgenes are used to treat a set of neurologic and cardiovascular disorders and diseases.
Voyager slated to receive $30 million as upfront payment
Under the terms and conditions of the license option agreement, Voyager is slated to receive $30 million as an upfront payment. Furthermore, the group is eligible to receive up to $20 million as an exercise fee. Moreover, the agreement makes Voyager entitled to earn up to $580 million.
Comments pour in as news of the license option agreement becomes official
As news of the development became official, words poured from various quarters. Interim CEO of Voyager Therapeutics Inc, Michael Higgins, said:
“This transaction highlights the potential of our TRACER platform to identify novel AAV capsids that target desired cells and tissues with greater specificity at lower doses and with fewer off-target risks than conventional AAV serotypes. We believe that our TRACER platform has the ability to produce not only enhanced blood-brain-barrier penetrant capsids, but also novel capsids with enhanced tropisms across a diversity of tissues and cell types, offering promise to unlock the fullest potential of gene therapies for a wide array of diseases with unmet medical need.”