Genzyme buys Avigen's gene therapy technology

Published: 3-Jan-2006

California-based biopharmaceutical producer Avigen has sold its AAV (adeno-associated viral) gene therapy assets to biotech company, Genzyme Corporation. Under the terms of the agreement, Genzyme will acquire all of Avigen\'s non-pain related AAV assets. These include all rights to an extensive line of patents and Avigen\'s Parkinson\'s disease clinical trial programme, which is in a Phase I/II study at University of California, San Francisco (UCSF).


California-based biopharmaceutical producer Avigen has sold its AAV (adeno-associated viral) gene therapy assets to biotech company, Genzyme Corporation. Under the terms of the agreement, Genzyme will acquire all of Avigen's non-pain related AAV assets. These include all rights to an extensive line of patents and Avigen's Parkinson's disease clinical trial programme, which is in a Phase I/II study at University of California, San Francisco (UCSF).

Genzyme will make an upfront cash payment of $12m to Avigen, with additional milestone and royalty payments on all products developed under Avigen's AAV intellectual property portfolio, including the current Parkinson's disease programme.

Kenneth Chahine, Avigen's president and ceo, said the agreement marked a significant milestone in the company's strategic move from a gene therapy company to a pharmaceutical company focused on small molecule therapeutics to treat neurological disorders.

  

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