(RTTNews) – MeiraGTx Holdings plc (MGTX), a clinical-stage genetic medicine company, on Tuesday entered into an agreement with Oberland Capital Management for an investment of up to $400 million.
The transaction includes up to $375 million in non-dilutive royalty financing and up to $25 million in equity investment.
The company mentioned that the initial funding includes $135 million, consisting of $125 million in royalty financing and a $10 million equity investment.
The company said that the additional funding of up to $265 million will be available based on clinical data, regulatory approvals and future business development opportunities.
The deal is aimed at supporting the development and commercialization of its gene therapy programs.
Oberland will receive capped low single-digit royalties on sales of MeiraGTx’s therapies, including AAV2-hAQP1, botaretigene sparoparvovec (bota-vec) and AAV-AIPL1, following regulatory approvals.
In the pre-market trading, MeiraGTx Holdings is 0.07% higher at $13.90 on the Nasdaq.
