Novartis to Acquire British Gene Therapy Company

Novartis acquires British gene therapy company Gyroscope Therapeutics for USD 1.5 billion.

BERLIN (AA)

Novartis, a pharmaceutical manufacturer headquartered in Switzerland, announced that it has agreed to acquire British gene therapy company Gyroscope Therapeutics for USD 1.5 billion to expand its position in gene therapies. Syncona Ltd, the parent company of Gyroscope Therapeutics, which develops drugs for retinal diseases and gene therapy, accepted Novartis's acquisition offer of USD 1.5 billion, with USD 800 million upfront. Gene therapies currently rank among the most expensive drugs in the world. Novartis has previously acquired Vedere Bio and Arctos Medical, companies that worked in this field.