GSK signs strategic agreement to transfer rare disease gene therapy portfolio to Orchard Therapeutics
- Agreement strengthens Orchard’s position as a global leader in gene therapy for rare diseases
- GSK takes 19.9% equity stake in Orchard and seat on board
LONDON, April 12, 2018 (GLOBE NEWSWIRE) — GSK and Orchard Therapeutics today announced a strategic agreement, under which GSK will transfer its portfolio of approved and investigational rare disease gene therapies to Orchard, securing the continued development of the programmes and access for patients. This acquisition strengthens Orchard’s position as a global leader in gene therapy for rare diseases. GSK will continue to invest in the development of its platform capabilities in cell and gene therapies, with a focus on oncology.
Under the agreement, GSK will become an investor in Orchard Therapeutics, receiving a 19.9% equity stake along with a seat on the company’s board. GSK will also receive financial considerations in the form of royalties and commercial milestone payments related to the acquired portfolio. GSK and Orchard will exchange manufacturing, technical and commercial insights and learnings on the development of gene therapy medicines to ensure the success of the assets.Back to News