{"id":78698,"date":"2023-10-30T22:40:38","date_gmt":"2023-10-31T02:40:38","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/meiragtx-shares-jump-as-sanofi-invests-in-gene-therapy\/"},"modified":"2023-10-30T22:40:42","modified_gmt":"2023-10-31T02:40:42","slug":"meiragtx-shares-jump-as-sanofi-invests-in-gene-therapy","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=78698","title":{"rendered":"MeiraGTx shares jump as Sanofi invests in gene therapy"},"content":{"rendered":"
\n

Shares of MeiraGTx Holdings PLC
\n MGTX,
\n +20.27%<\/bg-quote>
\n jumped 14% premarket on Monday after the gene therapy company announced that French drugmaker Sanofi
\n SNY,
\n +4.01%<\/bg-quote>
\n has made a $30 million investment. <\/p>\n

Sanofi bought 4 million ordinary shares at a price of $7.50 per share, MeiraGTx said in a release Monday, and is getting a right of first negotiation for use of MeiraGTx\u2019s Riboswitch gene regulation technology in certain immunology and inflammation, central nervous system, metabolic disease and other conditions. <\/p>\n

\n

MeiraGTx has also been approached by multiple parties with strategic interest in various company assets and is \u201cactively pursuing these options,\u201d the company said in the release. <\/p>\n

Sanofi CEO Paul Hudson said in a statement that the company welcomes \u201ctechnological innovations that help us chase the scientific miracles of the future. We believe that MeiraGTx\u2019s Riboswitch platform, supported by its unique manufacturing capabilities, is such a technology.\u201d <\/p>\n

The investment comes a few months after Sanofi expanded an earlier gene-therapy collaboration with Scribe Therapeutics Inc., licensing Scribe\u2019s gene editing technology for development of in vivo therapies, including sickle cell disease. <\/p>\n

MeiraGTx\u2019s gene regulation technology uses pills designed to precisely control how much of a gene therapy gets made. The company has six programs in clinical development. <\/p>\n

MeiraGTx shares are down 43% in the year to date, while the S&P 500
\n SPX
\n has gained 7.2%. Sanofi\u2019s American depositary receipts gained 1.8% premarket on Monday and have dropped 10.9% so far this year. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of MeiraGTx Holdings PLC MGTX, +20.27% jumped 14% premarket on Monday after the gene therapy company announced that French drugmaker Sanofi SNY, +4.01% has made a $30 million investment. Sanofi bought 4 million ordinary shares at a price of $7.50 per share, MeiraGTx said in a release Monday, and is getting a right of […]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-78698","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nMeiraGTx shares jump as Sanofi invests in gene therapy | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of MeiraGTx Holdings PLC MGTX, +20.27% jumped 14% premarket on Monday after the gene therapy company announced that French drugmaker Sanofi SNY,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=78698\" 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