Press Release October 30, 2020

Vedere Bio, A Novel Optogenetics AAV Gene Therapy Company, Acquired By Novartis For $150 Upfront And Up To $280 Million In Total

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.

The Goodwin team was led by Kingsley Taft, Laurie Burlingame and Jake Hays, and included Daniel Karelitz, Paul Jin, Sarah Bock, Grace Wirth, Jennifer Fay and Caroline Galiatsos.

For more details, read the press release and articles in Endpoints, FierceBiotech, and BioPharma Dive.