By DBJ staffDallas-based Taysha Gene Therapies, Inc. has announced it will be receiving a $50 million investment from Tokyo-based medicine company Astellas Pharma Inc., according to a news release.
The investment will go towards Taysha's adeno-associated virus gene therapy development programs for treating Rett syndrome and giant axonal neuropathy. "We are excited to enter this strategic investment with Astellas, a premier biopharmaceutical company with global research and development, manufacturing and commercial capabilities,", CEO of Taysha, said in the release."We believe this investment not only further validates the potential of our technology platform but also reinforces the therapeutic and market opportunity of our two lead clinical assets.
Under the term of the agreements, Astellas will acquire 15% of Taysha's common stock and the option to license two of Taysha's clinical-stage programs: TSHA-102 and TSHA-120. Both are still in development. "Taysha is an industry leader in CNS gene therapies, and this partnership fits strategically with our long-term vision of expanding Astellas' gene therapy capabilities, allowing the company to impact the lives of a broader range of patients with urgent unmet medical needs,"In addition to the investment, Astellas will receive a seat on Taysha's board of directors.