The Life Sciences team advised Vedere Bio, Inc. on its acquisition by Novartis. Shareholders in Vedere Bio received $150 million upfront and will be eligible for up to $130 million in milestone payments, for a total of $280 million. Immediately prior to the acquisition, certain earlier-stage vision restoration and vision preservation assets leveraging the company's ocular gene therapy toolbox were spun out into a newly formed entity — Vedere Bio II, Inc.
Verdere Bio is a stealth-stage company focused on advancing photoreceptor-protein-based optogenetic therapies that are delivered to the retina intravitreally to restore functional vision. Vedere Bio II, Inc. will operate as a wholly independent entity from Novartis and Vedere Bio. Vedere Bio II aims to develop a pipeline of novel vision restoration and vision preservation medicines by targeting underserved indications.