AveX­is wants $400M more for promis­ing SMA gene ther­a­py; Shang­Phar­ma part­ners with Ic­ahn School of Med­i­cine at Mount Sinai

AveX­is $AVXS is rais­ing more cash to fu­el its gene ther­a­py for spinal mus­cu­lar at­ro­phy with a pub­lic of­fer­ing of up to $400 mil­lion of shares at $117.5 per share. The plan, laid out in an SEC fil­ing, is to al­lo­cate $225 to $270 mil­lion to re­search, man­u­fac­tur­ing, clin­i­cal and reg­u­la­to­ry ac­tiv­i­ties — main­ly in SMA, but al­so for pro­grams in Rett syn­drome and ALS. Around $140 mil­lion to $175 mil­lion will go to pre-com­mer­cial ac­tiv­i­ties for the po­ten­tial launch of SMA block­buster con­tender AVXS-101, in­clud­ing med­ical af­fairs, com­mer­cial ini­tia­tives and li­cens­ing ac­tiv­i­ties. The Chica­go-based biotech is com­ing on strong in the SMA field, threat­en­ing to cut in­to Bio­gen’s Spin­raza fran­chise.

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