AGTC Release Confirms Strategic Collaboration With Biogen Effective and Biogen Equity Investment Closed

Applied Genetic Technologies Corporation

, a biotechnology company conducting human clinical trials of adeno-associated virus (AAV)-based gene therapies for the treatment of rare eye diseases, today announced that its collaboration with Biogen

, first announced on July 2, 2015 is effective, and Biogen's equity investment in AGTC has closed, following the expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the satisfaction of other customary closing conditions. "We are excited to combine our deep experience in gene therapy and ophthalmology with Biogen's strong track record of developing and marketing therapies for complex and rare diseases," said Sue Washer, Chief Executive Officer of AGTC. "This collaboration will provide many synergies, enabling us to accelerate our lead programs for the treatment of X-Linked Retinoschisis (XLRS) and X-linked Retinitis Pigmentosa (XLRP), two ocular conditions with significant unmet needs, and three discovery programs, including a non-ophthalmic condition. In addition, we now have expanded resources to accelerate the development of several internal programs, including our program for the treatment of achromatopsia." AGTC has a robust product pipeline, including five named ophthalmology development programs across four targets (XLRS, XLRP, achromatopsia and wet age-related macular degeneration), one non-ophthalmology program (alpha-1 antitrypsin deficiency) and proof-of-concept data in multiple additional indications. The Company employs a highly targeted approach to selecting and designing its product candidates, choosing to develop therapies for indications having high unmet medical need, clinical feasibility and commercial potential. The Company has a significant intellectual property portfolio and expertise in the design of gene therapy products including capsids, promoters and expression cassettes, as well as expertise in the formulation and physical delivery of gene therapy products.