Iveric received $500,000 up front & high single-digit percentage ownership stake in Opus, 2,632,720 shares of series seed preferred stock of Opus, ~$12.8M in development & regulatory milestones, ~$98.9M in sales milestones along with royalties on net sales of the products
Opus gets the rights to 2 preclinical-stage AAV-based gene therapy products (IC-100 and IC-200) & will lead the global research, development & commercialization of novel gene therapy candidates for BEST1-related inherited retinal diseases & RHO-adRP programs. Iveric gets the rights for future commercialization of gene therapy products for both programs
The additional IND-enabling studies & filing an IND for BEST1 are expected to be completed in H2’23
Ref: Globenewswire | Image: Opus Genetics
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