Khurem Farooq, Gyroscope CEO

No­var­tis un­wraps $1.5B gene ther­a­py buy­out — beef­ing up ar­se­nal against reti­nal dis­eases

Christ­mas is com­ing ear­ly for Gy­ro­scope.

In its lat­est gene ther­a­py gam­bit, No­var­tis is pay­ing $800 mil­lion up­front to ac­quire the Syn­cona-backed biotech, with an­oth­er $700 mil­lion re­served for mile­stones.

No­var­tis has been div­ing deep in­to reti­nal dis­or­ders, and Gy­ro­scope’s lead can­di­date adds a po­ten­tial one-time treat­ment for ge­o­graph­ic at­ro­phy — a lead­ing cause of blind­ness — to the pipeline.

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