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  • Genovis to receive 4 MUSD upfront after Selecta Biosciences sublicensed Xork™ enzyme to Astellas Pharma

Genovis to receive 4 MUSD upfront after Selecta Biosciences sublicensed Xork™ enzyme to Astellas Pharma

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Today Selecta Biosciences announced the sublicensing of the Xork enzyme to Astellas Pharma for development with AT845, an investigational Astellas Gene Therapies’ product, for the treatment of Pompe Disease.   

As part of the licensing agreement entered between Genovis AB and Selecta Biosciences Inc. in 2021, Genovis will receive 4 MUSD upfront following the sublicensing of the Xork enzyme from Selecta Bioscience Inc. to Astellas Pharma Inc. Genovis is eligible to receive additional sublicense revenues up to 135 MUSD from development and commercialization plus royalties on sales where Xork and AT845 are used for treatment of Pompe Disease.  

“The license agreement between Selecta Biosciences and Astellas Pharma validates both the value of the Xork enzyme as a potential pretreatment strategy for gene therapy and the partnership between Genovis and Selecta Bioscience. In our partnership with Selecta Biosciences, we will continue to target additional indications for Xork within the gene therapy field”, says Fredrik Olsson, CEO Genovis. 

This disclosure contains information that Genovis AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 09-01-2023 13:58 CET.

For more information, please contact: Fredrik Olsson, CEO, Genovis AB Tel: +46 (0)70-276 46 56 fredrik.olsson@genovis.com

Genovis’ business concept is to apply its knowledge and customer driven innovation to design and provide tools for the development of the drugs of the future. Today Genovis sells several enzyme products known as SmartEnzymes™ all over the world in innovative product formats that facilitate development and quality control of biological drugs.

The Group consists of Genovis AB and the wholly owned subsidiary Genovis Inc. (US). Genovis shares are listed on Nasdaq First North Growth Market and Erik Penser Bank is the Company’s Certified Adviser, certifiedadviser@penser.se, tel: +46 (0)8-463 83 00.

Published reports can be downloaded from the Genovis website: https://investor.genovis.com/en/financial-reports/

This is a translation of the Swedish original. In the event of any discrepancy between this translation and the Swedish original, the Swedish version shall prevail.

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