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Novartis buys Vedere Bio, whose founders helped blind mice see
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Novartis buys Vedere Bio, whose founders helped blind mice see
Swiss drugmaker Novartis is buying Vedere Bio, hoping gene therapy technology that has helped blind mice to see will produce similar results in people with inherited conditions that cause them to lose their sight. Novartis is paying $150 million upfront for the U.S. biotechnology company, with the remainder in milestone payments for a total of $280 million. Novartis, which ploughed into gene therapy with its $8.7 billion acquisition of AveXis in 2018, is deepening its push into the segment with Vedere Bio, with a pair of early-stage programmes that rely on viruses to deliver genes to people with blindness-causing diseases like retinitis pigmentosa.
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