Gyroscope Therapeutics

History

2021: Novartis bought Gyroscope Therapeutics for $1.5 billion

On December 22, 2021, Novartis announced a final agreement to acquire all shares in Gyroscope Therapeutics, a gene therapy for eye diseases. Novartis will pay an advance payment of $800 million, and the remaining $700 million - later. Until the deal closes, Novartis and Gyroscope Therapeutics will continue to operate as separate and independent companies.

Geographic atrophy (HA) is a progressive form of dry age-related macular degeneration (AMD) that leads to progressive and irreversible vision loss. There are no approved treatments for HA, making it one of the most significant unmet needs in the field of retinal diseases. GT005 is developed by Gyroscope Therapeutics as a single-use GA research gene therapy that is administered under the retina, and the company itself also has several more assets in its portfolio in early retinal disease research.

Novartis acquired Gyroscope Therapeutics for $1.5 billion

Thanks to our own innovative research in ocular gene therapy and the experience gained from the introduction of the drug Luxturna for the treatment of patients with inherited retinal dystrophy outside the United States, Novartis has a well-developed expertise in the field of ocular gene therapy, which will allow us to continue developing this promising one-time drug... This acquisition is another step forward in our desire to innovate in ophthalmology to treat and prevent blindness around the world, said Marie-France Tschudin, president of Novartis.

GT005 aims to restore the balance of the hyperactive complement system, which is part of the immune system, by increasing protein production. Hyperactivation of the complement system can lead to inflammation that damages healthy tissues, and it has been strongly associated with development and progression. The protein regulates for complement system activity, as it is suggested that increased production may reduce inflammation, leading to preservation of vision. The safety and efficacy of GT005 for GA treatment as of December 2021 is assessed in a phase 1/2 clinical trial and two phase 24,5,6 clinical trials. The drug has been approved by the U.S. Food and Drug Administration (FDA) for accelerated use for the treatment of people with HA.^[1]

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