Novartis Adds Vision Loss Gene Therapy Program Via Arctos Acquisition
- Novartis AG (NYSE: NVS) has acquired Arctos Medical, adding a preclinical optogenetics-based AAV gene therapy program and Arctos’ proprietary technology to its ophthalmology portfolio.
- Deal terms were not disclosed.
- Related: Why Did Deutsche Bank Downgrade This Big Pharma Stock?
- Arctos developed its technology as a potential method for treating inherited retinal dystrophies (IRDs) and other diseases that involve photoreceptor loss, such as age-related macular degeneration.
- Arctos’ proprietary, light-sensitive optogene is delivered to specific retinal cells using gene therapy, thus turning the targeted cells into replacement photoreceptor-like cells.
- Arctos was initially incubated by +ND Capital and was later supported by Novartis Venture Fund through a Series A financing round led by +ND Capital.
- Price Action: NVS stock is up 0.81% at $83.47 during the premarket session on the last check Tuesday.