Home / Business / REFILE-UPDATE 1-Bristol-Myers to deposit in Dutch gene therapy association …
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REFILE-UPDATE 1-Bristol-Myers to deposit in Dutch gene therapy association …


(Refiles to scold spelling to ‘Glybera’ from ‘Glyberan’ in
paragraphs 3 and 4)

April 6 (Reuters) – Bristol-Myers Squibb Co pronounced it
would deposit in Dutch biotech uniQure NV, fasten other
big drugmakers who have changed to benefit a foothold in the
promising gene therapy market.

UniQure’s shares jumped some-more than 55 percent on Monday after
Bristol-Myers pronounced it would collect adult a 4.9 percent seductiveness in the
company.

UniQure’s gene therapy drug, Glybera, went on sale final year
priced during 1.1 million euros.

Glybera fights a ultra-rare genetic illness lipoprotein
lipase deficiency, that clogs a blood with fat.

Investor seductiveness in a margin of gene therapy has grown in
the past 18 months, with Bluebird Bio Inc, uniQure NV
and Spark Therapeutics Inc all entertainment successful
floats on a Nasdaq.

Bayer AG struck a gene therapy understanding with
Dimension Therapeutics in June, while France’s Sanofi SA
has a long-standing tie-up with Oxford BioMedica
.

Bristol-Myers will deposit about $100 million in uniQure,
including $33.84 per share, or during slightest $32 million in total,
for a 4.9 percent stake, a companies said.

The squeeze cost per share is during a 48 percent reward to
uniQure’s Thursday tighten and values a association during about $595.4
million, formed on a superb shares as of Feb. 9, according
to Thomson Reuters calculations.

Bristol-Myers will acquire an additional 5 percent seductiveness in
the Amsterdam-based association before Dec. 31 during a 10 percent
premium.

The companies will combine on 10 targets, including
uniQure’s exclusive gene therapy module for congestive heart
failure, S100A1.

UniQure will be obliged for a make of clinical
and blurb supplies, while Bristol-Myers will lead
development and regulatory activities and bear all investigate and
development costs.

Bristol-Myers will also be obliged for the
commercialization of all products from a collaboration.

UniQure will be authorised for a series of miracle payments,
including adult to $254 million for a lead S100A1 healing and
up to $217 million for any other gene therapy product
potentially grown underneath a deal.

UniQure’s shares were adult 45.8 percent during $33.34 in morning
trading on a Nasdaq.

(Reporting by Ankur Banerjee and Samantha Kareen Nair in
Bengaluru; Editing by Maju Samuel and Simon Jennings)

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