Instant Report
FDF

Date: 29-Apr-2021

LogicBio Therapeutics Announces Strategic Collaboration And Option Agreement With CANbridge Pharmaceuticals Leveraging Gene Editing And Gene Delivery

LogicBio Therapeutics, Inc., a clinical-stage genetic medicine company pioneering gene delivery and gene editing platforms to address rare and serious diseases from infancy through adulthood, announced a strategic collaboration and option agreement with CANbridge Pharmaceuticals, Inc., a biopharmaceutical company delivering life-changing therapeutics built upon a foundation in China.

"We are very pleased to be collaborating with CANbridge whose breadth of experience in developing and commercializing innovative drugs will allow us to help more patients around the world including those in China, which is a large and widely underserved market," said Frederic Chereau, president and chief executive officer of LogicBio. "This collaboration further validates the significant potential of our GeneRide and sAAVy platforms and their unique approaches to gene insertion and gene delivery."

Under the terms of the agreement, CANbridge is granted an option to an exclusive license for LB-001, an investigational in-vivo gene editing technology based on LogicBio's GeneRideTM platform for the potential treatment of methylmalonic acidemia (MMA) in Greater China (China, Taiwan, Hong Kong and Macau).

CANbridge would assume responsibility and costs for all future development, regulatory, commercial, and potentially manufacturing activities in the territory upon exercise of said option.The agreement also grants CANbridge a worldwide license for the adeno-associated virus (AAV) sL65, the first capsid produced from LogicBio's sAAVyTM platform, and development support on gene therapy candidates for the treatment of Fabry and Pompe disease plus two optional indications.

LogicBio is eligible to receive an upfront payment of $10 million. This payment triggers the development of two gene therapy candidates for Fabry and Pompe disease based on AAV sL65. In addition, it grants options for a LB-001 license in Greater China and two additional undisclosed gene therapy programs. The agreement also includes options payments, clinical, regulatory and commercial milestone payments of up to $581 million and up to double-digit royalties on net sales.

"We look forward to advancing our rare disease program with LogicBio's next generation, best-in-class capsid and gene editing technologies as we build our gene therapy capability and develop new rare disease treatments in Greater China and worldwide," said James Xue, Ph.D., Founder, Chairman and CEO of CANbridge Pharmaceuticals, Inc. "Partnering with LogicBio is a vital part of our strategy to build a world class rare disease program."

"It is an exciting time to be involved in genetic medicines, as the sector is rapidly evolving and more innovative therapeutic approaches are emerging. LogicBio's next generation capsid with its ability to precisely target liver tissue, its potential to overcome a risk of limited potency and immunogenicity, and its more efficient manufacturing yield is well positioned to overcome challenges of older-generation medicines. Through this collaboration we look forward to advancing CANbridge gene therapy programs," said Mariana Nacht, Ph.D., chief scientific officer of LogicBio.

"Together both of our companies aim to develop and commercialize rare disease treatments, which are desperately needed in China and the rest of the world. This new partnership positions us well to reach patients who often have no or limited treatment options available including patients affected by MMA," said Daniel Gruskin, M.D., senior vice president and head of clinical development at LogicBio.