Gene-Therapy Firm UniQure Explores Options Including Sales
(Bloomberg) – UniQure NV explores alternatives, including a potential sale of interest from pharmaceutical companies wishing to expand into gene therapy, people with knowledge of the matter said.
The biotech company collaborates with advisors who weigh options including a sales or partnership, according to the people, who requested not to be identified because the information is private. UniQure's shares have increased more than 151% in US trading this year, giving it a market value of around $ 2.7 billion.
Large pharmaceutical companies have pursued gene therapy companies that promise to treat rare debilitating diseases by correcting DNA errors. Although the field has not yet delivered a blockage, the promise of dramatic cures with multimillion-dollar price tags has triggered an agreement of contract activity. Cantor Fitzgerald LP said in February that UniQure "could be next" and can attract interest from big companies like Novo Nordisk A / S, Pfizer Inc. and Sanofi.
An agreement with UniQure would bring access to a pipeline of experimental treatments for hemophilia, Huntington's disease and other disorders. The company is incorporated in the Netherlands, with around 200 employees divided between Amsterdam and Lexington, Massachusetts, according to its website.
Read more: After $ 1 Million Drug Flop, UniQure Revived in Gene Therapy
UniQure shares increased earlier this month after plans to attend Goldman Sachs Group Inc.'s annual health conference were canceled. The company said it was pulled out because of a conflict with CEO Matt Kapusta's schedule.
No final decisions have been made and there is no certainty that the deliberations will lead to a transaction, the people said. A representative of UniQure refused to comment.
Biogen Inc. agreed earlier this year to buy Nightstar Therapeutics Plc, and Pfizer acquired a stake in Vivet Therapeutics. Roche Holding AG agreed in February to buy Spark Therapeutics Inc. for $ 4.8 billion, following Novartis AG's $ 8.7 billion purchase of AveXis Inc. last year.
UniQure developed Glybera, the first gene therapy approved for sale in Europe, although the $ 1 million treatment had disappointing sales and the company said it would not renew its marketing authorization in 2017. Since then, the company has focused on hemophilia treatments.
Gene therapy deals are beginning to meet some controls from regulators. Earlier this month, the US Federal Trade Commission asked Roche and Spark for more information as part of their review of their pending agreement. The latest FTC request came after the agency said in April that it would need more time to investigate the transaction.
(Updates to the Goldman Sachs Conference in the fifth paragraph.)
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