2seventy entered agreements with Novo Nordisk and Genevant to get an in vivo gene editing treatment for hemophilia A developed, noted a Wedbush report.
Immuno-oncology cell therapy company, 2seventy bio inc. (TSVT:NASDAQ), entered into two recent agreements with the ultimate goal of developing a way to deliver megaTAL messenger RNA (mRNA) products to treat hemophilia, reported Wedbush analyst David Nierengarten in a Jan. 6 research note.
“We view these partnerships as validation of 2seventy’s gene editing technology that can potentially be used to treat severe genetic diseases,” the analyst wrote.
As for its expanded agreement with Novo Nordisk, 2seventy grants Novo the exclusive option to license 2seventy’s mRNA-based megaTAL technology, Nierengarten relayed. Along with the upfront payment, Novo may receive near-term milestone and option exercise payments up to $35 million, payment upon certain development, regulatory and commercial milestones and royalty payments on future net sales. Novo will cover all research and development costs.
Concerning its deal with Genevant, noted Nierengarten, in addition to the payments up to $10 million, 2seventy is responsible for making to Genevant development and commercialization milestone payments as well as royalty payments on future product sales.
Nierengarten pointed out that 2seventy’s shares are currently undervalued, in light of the company’s pipeline targeting numerous oncological indications and the robust sales expectations for ABECMA.
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Disclosures for Wedbush Securities, 2seventy bio Inc., Jan. 6, 2022
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