NEW YORK – Cell and gene therapy developer Cure Genetics on Thursday said it entered into a $60 million deal with Frametact, a company focused on R&D for neurological conditions, to codevelop treatments for brain diseases.
Under the terms of the development and licensing agreement, Suzhou, China-based Cure Genetics will bring together its VELP adeno-associated virus vector development platform with Hong Kong-based Frametact's expertise in neuroscience to create gene therapies for familial neurological diseases such as Alzheimer's, Parkinson's, and Huntington's.
Cure Genetics will receive upfront and milestone payments of up to $60 million.
Upon market launch of a potential product, Cure Genetics will also receive sales royalties based on net revenue.