Gene therapy firm Capsida Biotherapeutics is making strides with its AbbVie-partnered neurodegenerative disease therapies after AbbVie exercised a $40 million option for the program. This decision is based on data indicating that Capsida’s adeno-associated virus (AAV) capsids successfully delivered AbbVie’s gene therapy to the brains of primates.
In addition to the $40 million licensing payment, Capsida is eligible for development and commercial milestones, along with royalties on future sales. Capsida CEO Peter Anastasiou highlighted the significance of this development, stating, “AbbVie's option exercise demonstrates the potential high performance of Capsida's IV-delivered AAV technology.” He also mentioned the anticipation of advancing two wholly owned CNS programs into clinical trials by the first half of 2025.
The collaboration between AbbVie and Capsida began in 2021, with Capsida securing a $50 million series A funding and an additional $90 million from AbbVie to develop viral capsids for delivering genetic medicines targeting three CNS diseases. AbbVie further solidified its commitment in January 2023 by signing a deal potentially worth over $595 million to explore three eye disease targets using Capsida’s technology. This agreement followed closely after Capsida partnered with Eli Lilly for a deal valued up to $685 million.
