Shots:

• Vedere Bio received $150M as upfront payments and is eligible to receive up to $130M as milestones making a total deal value of $280M. The transaction closed in Sept’2020
• The acquisition will strengthen Novartis’ footprints with the addition of lead preclinical intravitreally injected AAV gene therapy programs focused on pan-genotypic vision restoration in patients with photoreceptor-based vision loss
• Prior to the acquisition- earlier-stage vision restoration and vision preservation assets leveraging the company's ocular gene therapy toolbox were spun out into a newly formed entity – Vedere Bio II. The new company will operate as a wholly independent entity from Novartis and Vedere Bio

­ Ref: PRNewswire | Image: Novartis