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LogicBio Therapeutics, CANbridge Ink Partnership For Development Of Gene Therapy Candidates

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  • CANbridge Pharmaceuticals Inc has entered into a strategic collaboration and licensing agreement with LogicBio Therapeutics Inc (NASDAQ: LOGC) to develop, manufacture and commercialize gene therapy candidates for treatments for Fabry and Pompe diseases.

  • The candidates will be based on LogicBio's adeno-associated virus (AAV) sL65, the first capsid produced from the LogicBio sAAVy platform.

  • The agreement also includes options for the development of AAV sL65-based treatments for two additional indications.

  • CANbridge is also granted an option to an exclusive license for LB-001, an investigational in-vivo gene-editing technology based on the GeneRide platform to treat methylmalonic acidemia (MMA) in Greater China (China, Taiwan, Hong Kong, and Macau).

  • Under the terms of the agreement, LogicBio will receive an upfront payment of $10 million for Fabry and Pompe disease candidates.

  • Upon exercising the option for LB-001, CANbridge would assume responsibility and costs for all future development.

  • The agreement also milestone payments for up to $581 million and up to double-digit royalties on net sales.

  • Additionally, LogicBio signed a research collaboration and exclusive option agreement with Daiichi Sankyo (OTCMKTS: DSKYF).

  • The companies will collaborate on developing treatments for two undisclosed indications based on GeneRide, LogicBio's proprietary gene insertion platform.

  • The financial terms of the collaboration are not disclosed.

  • Price Action: LOGC shares are up 0.17% at $6.011 during the market session on the last check Tuesday.

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