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Global gene therapy leader Orchard Therapeutics is to be acquired by Japan-based global specialty pharmaceutical company Kyowa Kirin. The acquisition price of $16.00 per American Depositary Share in cash plus an additional contingent value right of $1.00 per ADS, representing a total maximum equity of approximately $477.6 million.
Upon closing, the acquisition will enrich Kyowa Kirin’s portfolio. Kyowa Kirin has established a 2030 Vision to consistently create and deliver medicines with life-changing value. The acquisition allows Kyowa Kirin to maximize the value of one of Orchard Therapeutic’s portfolio products, Libmeldy®. Also known as OTL-200, Libmeldy® is intended for eligible patients with early-onset metachromatic leukodystrophy (MLD).
MLD is a rare and life-threatening inherited disease of the body’s metabolic system. Libmeldy is approved by the European Commission (EC) and UK Medicines and Healthcare products Regulatory Agency (MHRA) for the treatment of “late infantile” and “early juvenile” MLD patients. It is currently an investigational drug under Priority Review by the Food and Drug Administration (FDA) with a Prescription Drug User Fee Act (PDUFA) goal date of March 18, 2024.
In the most severe form of MLD, it causes infants to lose their ability to walk, communicate, and interact with their environment in late infancy.
Orchard Therapeutics is developing two programs using HSC gene therapy to treat severe pediatric neurometabolic disorders: MPS-IH and MPS-IIIA.
Takeyoshi Yamashita, Ph.D., Director of the Board, chief medical officer, and senior managing executive officer of Kyowa Kirin commented:
“Orchard Therapeutics is a company with a steady track record in this field and has already launched its HSC gene therapy in Europe and filed for review in the U.S. Our hope is to combine the strengths of Kyowa Kirin and Orchard Therapeutics with mutual respect to realize the successful creation and delivery of life-changing value for patients living with rare and life-threatening inherited diseases.”
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The combination of Orchard Therapeutics’ innovative HSC gene therapy platform technology and Kyowa Kirin’s capabilities, resources and infrastructure will enable the continued development of numerous promising biopharmaceutical candidates. Importantly, it has the potential to deliver life-changing value in medical care, including in therapeutic areas and indications where Kyowa Kirin has deep experience, such as oncology and autoimmune diseases.
“Joining Kyowa Kirin’s global network ensures we are well-resourced to progress anticipated commercialization of OTL-200 in the U.S., if approved, continue investing in initiatives aimed at accelerating Libmeldy growth in Europe, capitalize on opportunities for global expansion, as well as advance our next-in-line neurometabolic programs in MPS disorders and earlier-stage research programs,” added Booby Gasper, co-founder and CEO of Orchard Therapeutics.
Source: Orchard Therapeutics Press Release
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