Taysha Gene Therapies, Inc. (NASDAQ: TSHA) is a biotechnology company that is focused on developing gene therapies to treat monogenic CNS disease. Shares of the gene therapy company are soaring 47% through early trading on Tuesday, October 25, 2022. Over the past three months, Taysha Gene Therapies has seen average daily volume of 112,820 shares. However, volume of 34.49 million shares or dollar volume of around $76.91 million, has already exchanged hands through early trading.
Shares of Taysha are surging after the company announced that it has received a strategic investment from Astrellas Pharma, Inc. to support to development of Taysha’s adeno-associated virus (AAV) gene therapy programs for the treatment of Rett syndrome and GAN.
Under the terms of the agreement, Astellas will invest a total of $50 million to acquire a 15% stake in Taysha. In exchange, Astrellas will receive the exclusive option to license two of Taysha’s drug candidate programs: TSHA-102 for the treatment of Rett syndrome and TSHA-120 for the treatment of GAN. Astrellas will also receive one board observer seat on the Taysha Board of Directors.
TSHA-102 is a first-and-only gene therapy that is currently undergoing clinical development for Rett syndrome. The TSHA-120 drug candidate is currently in Phase 1/2 clinical trial development for GAN and is awaiting regulatory feedback.
Astrellas has been working diligently to build out its gene therapy capabilities through its acquisition of Audentes in January 2020. The company has subsequently constructed a state-of-the-art GMP manufacturing facility in North Carolina, which officially opened in June of 2022.
“We are excited to enter this strategic investment with Astellas, a premier biopharmaceutical company with global R&D, manufacturing and commercial capabilities,” said RA Session II, Taysha’s Chief Executive Officer. “We believe this investment not only further validates the potential of our technology platform, but also reinforces the therapeutic and market opportunity of our two lead clinical assets.”
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