Syncona Limited has acquired Applied Genetic Technologies Corporation. The tender offer is for approximately $23.5 million in cash plus potential future aggregate cash payments of up to $50 million pursuant to contingent value rights.
London-based Syncona focuses on founding, building and funding global leaders in life science.
Applied Genetic Technologies Corporation is a clinical-stage biotechnology company focused on the development and commercialization of adeno-associated, virus-based gene therapies for the treatment of rare and debilitating diseases with an initial focus on inherited retinal diseases.
According to the LevinPro HC database, this is the 116th Biotechnology deal of 2022. This compares with 121 Biotechnology transactions recorded during 2021.
