By Colin KellaherShares of Voyager Therapeutics surged in premarket trading Tuesday after the biotechnology company said it inked a collaboration and license agreement with drugmaker Novartis that is potentially worth more than $1 billion. Voyager said it will provide Novartis a target-exclusive license to its Tracer capsids and other intellectual property as the companies pursue potential gene therapies for Huntington's disease and spinal muscular atrophy. According to a filing with the U.S. Securities and Exchange Commission, Novartis is buying nearly 2.15 million Voyager shares, which would imply a purchase price of roughly $9.32, a 10% premium to Friday's closing price of $8.44. Voyager, based in Lexington, Mass., said it expects funds from the collaboration will extend its runway into mid-2026. Voyager shares were recently up 23% to $10.40 in premarket trading.

Source: Wall Street Journal January 03, 2024 00:39 UTC