Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Novartis buys gene therapy firm Arctos Medical in vision loss treatment push

Published 21/09/2021, 06:36
Updated 21/09/2021, 07:06
© Reuters. FILE PHOTO: Novartis' logo is seen at the cell and gene therapy factory of the Swiss drugmaker in Stein, Switzerland, November 28, 2019. REUTERS/Arnd Wiegmann/File Photo

© Reuters. FILE PHOTO: Novartis' logo is seen at the cell and gene therapy factory of the Swiss drugmaker in Stein, Switzerland, November 28, 2019. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) -Swiss drugmaker Novartis said on Tuesday it has bought gene therapy specialist Arctos Medical for an undisclosed amount, aiming to boost its efforts to find treatments for severe vision loss.

Arctos's technology is a potential way to treat inherited retinal dystrophies (IRDs) and other diseases that involve photoreceptor loss, such as age-related macular degeneration (AMD).

Existing gene therapy treatments aim to correct a specific gene, so only a small number of patients can benefit, Novartis said. The Arctos technology is not limited to a specific gene, and can potentially address many forms of IRDs, it said.

IRDs affect more than 2 million people globally and often result in complete blindness. AMD, meanwhile, affects an estimated 170 million people globally, Novartis said.

© Reuters. FILE PHOTO: Novartis' logo is seen at the cell and gene therapy factory of the Swiss drugmaker in Stein, Switzerland, November 28, 2019. REUTERS/Arnd Wiegmann/File Photo

The acquisition underscores its commitment to using optogenetics-based therapies to restore vision to patients with advanced blindness, the company said.

"Optogenetics is emerging as a promising therapeutic approach that might restore sight to patients who are legally blind," Jay Bradner, president of the Novartis Institutes for BioMedical Research, said in a statement.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.