BiQ: An Update on MeiraGTx (MGTX)
Yesterday, MeiraGTx (MGTX) announced a significant new licensing and joint-venture (JV) deal with Hologen AI, a privately held company focused on creating AI models to optimize the development of late-stage clinical assets. Eric Schmidt, former CEO of Google, is one of the founding partners of Hologen.
As part of the deal, MGTX will contribute its AAV-GAD program to treat Parkinson's Disease. In return, MGTX will receive $200M in up-front cash, a 30% stake in the new JV, and a manufacturing agreement for the commercial supply of AAV-GAD. Hologen AI has also committed an additional $230M for further development and commercialization of AAV-GAD and will receive a minority interest in MGTX's manufacturing subsidiary.
The new JV, called Hologen Neuro AI, plans to use Hologen's AI models to develop and commercialize AAV-GAD, and presumably develop other assets addressing neurodegenerative diseases in the future.