UniQure Expands Gene Therapies Pipeline For Neurological Disorders With Corlieve Acquisition
- UniQure N.V. (NASDAQ: QURE) has agreed to acquire Corlieve Therapeutics and its lead program for temporal lobe epilepsy (TLE), the most common form of focal epilepsy.
- The company will pay €46.3 million in an upfront cash payment.
- Corlieve shareholders are eligible to receive up to €43.7 million in development milestones through Phase 1/2 and €160 million in milestones associated with Phase 3 development and the approvals of AMT-260.
- Corlieve's lead gene therapy program employs miRNA silencing technology to target suppression of aberrantly expressed kainate receptors in the hippocampus of patients with TLE.
- Upon closing the transaction, Richard Porter, founder and Chief Executive Officer of Corlieve, will assume the role at UniQure of General Manager of the Corlieve subsidiary.
- UniQure held $260.81 million in cash and equivalents as of March 31, 2021.
- Price Action: QURE shares are down 5.6% at $31 during the market trading session on the last check Tuesday.
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