The once high-flying startup sought additional partners after warning investors about its ability to continue as a ‘going concern.’
6:00 AM on Oct 25, 2022 CDT, Dallas biotech Taysha Gene Therapies Inc. has landed a $50 million investment from a Japanese pharmaceutical company.from Tokyo-based Astellas Pharma Inc. to push forward its gene therapies for treating Rett syndrome and a disorder called giant axonal neuropathy.
The other $20 million is payment for licensing options and a provision that essentially gives Astellas first shot at buying the company, depending on the outcome of its Rett syndrome trials, according to“This partnership fits strategically with our long-term vision of expanding Astellas’ gene therapy capabilities, allowing the company to impact the lives of a broader range of patients with urgent unmet medical needs,” said Astellas chief strategy officer Naoki Okamura in a statement.
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