Novartis is to pay $800 million upfront to acquire the UK gene therapy company Gyroscope Therapeutics Ltd whose lead product GT005 is in clinical development for geographic atrophy, an advanced form of dry age-related macular degeneration (AMD). The acquisition will strengthen Novartis’ position in gene therapies for the eye nearly two years after its licensee Spark Therapeutics was taken over by Roche. Spark had an approved gene therapy for retinal disease at the time it joined the Roche group.
