Genable Technologies Ltd, Announces That It has been Acquired By Spark Therapeutics, Inc.
News Mar 16, 2016
Genable has announced that it has completed a transaction which will see it become fully owned by Spark Therapeutics. Annette Clancy, Chair of the Board of Directors of Genable commented “We are delighted that this transaction with Spark Therapeutics Inc. will ensure the expedient clinical development of RhoNova™ for the treatment of autosomal dominant rhodopsin linked retinitis pigmentosa (RHO-adRP), a leading cause of inherited blindness.
The unanimous recommendation of the Board was that Spark Therapeutics, world leaders in AAV gene therapies, has the relevant resources and expertise to maximise the chance of success for RhoNova™ and deliver its benefit for patients. We wish them every success.” “The longstanding support of our patient, institutional and funding partners and scientific colleagues has been central to expediting development of RhoNova™ from its academic roots in Trinity College Dublin.
Spark Therapeutics, a global leader in AAV-based gene therapy, has collaborated with Genable since 2014 in the development of RhoNova™, our Product has and will continue to greatly benefit from Spark’s knowledge and technology platform” said Professor Jane Farrar, co-founder and CSO of Genable. Genable Technologies Ltd will become a wholly owned subsidiary of Spark Therapeutics Inc. and the Company will remain situated in Ireland.
Genable were supported in executing this transaction by its legal counsel Mason, Hayes and Curran (Ireland) with input from Choate, Hall & Stewart LLP (US). Stifel, Nicolaus & Company, Incorporated is acting as financial advisor to Genable.