Aukojen signs memorandum to conclude an agreement with Roots Pharmaceutical and Al-Daw

US biotechnology company OcuGene (NASDAQ: OCGN) announced the signing of a binding term sheet paving the way for a licensing agreement with Roots Pharmaceutical and its strategic partner, Al-Daw Holding Company. Under the deal, the two parties will obtain ownership and marketing rights for OcuGene’s therapeutic asset, OCU400, in the Middle East and North Africa (MENA) region, in a transaction with a potential cumulative value of approximately $259 million.

OCU400 is a targeted gene-editing therapy designed to treat retinitis pigmentosa, a disease that is one of the leading causes of inherited blindness and has a high prevalence in the region, making it a growing market for the asset.

Dr. Shankar Musunuri, Chairman, Chief Executive Officer, and Co-Founder of OcuGene, said: “This step represents a significant milestone in our regional partnership strategy for the OCU400 therapy. Through this collaboration, we are expanding our ability to deliver this potential one-time, lifelong treatment to a region where the disease is prevalent and where patients seeking relief from blindness have urgent needs. This agreement underscores the growing momentum around the program and our ongoing commitment to patients.”

Dr. Islam Zayed, Chief Executive Officer and Co-Founder of Roots Pharmaceutical, said: “Making innovative gene therapies available to patients across the Middle East and North Africa is a strategic priority for us and for our strategic partner, Al-Daw Holding Company. OCU400 extends our legacy of providing treatments for rare diseases to patients in the region, and enables our joint teams to contribute to reducing the disease burden regionally.”