ProQR Therapeutics announces termination of deal to sell ophthalmic assets

ProQR Therapeutics provided an update that its previously announced agreement to divest the Company’s late-stage ophthalmic assets to Laboratoires Thea has been terminated. The completion of the transaction was conditional on Thea entering into employment agreements with a number of key ophthalmology personnel from ProQR. Some of these individuals have now elected not to proceed with employment at Thea, therefore that closing condition for the transaction cannot be fulfilled and Thea has terminated the agreement. “While we are disappointed that the sale of these ophthalmology programs to Thea will not proceed, our primary focus at ProQR remains on our Axiomer RNA editing platform,” said Daniel de Boer, CEO of ProQR. “We look forward to advancing our wholly owned pipeline with an initial focus on targets for cholestatic and cardiovascular diseases, in addition to our partnership with Lilly, as we work to develop a new class of therapies for patients with high unmet need.”