ProQR Therapeutics to divest sepofarsen, ultevursen assets to Laboratoires Thea

ProQR Therapeutics and Laboratoires Thea announced an agreement in which ProQR will divest its late stage ophthalmic assets, sepofarsen and ultevursen, to Thea. Under the terms of the agreement, ProQR will receive an initial payment of EUR 12.5M and will also be eligible for up to EUR 135M in further development, regulatory, and commercial payments, as well as additional earn outs up to high teens percentage based on commercial sales in the US and EU. “Thea’s proven expertise in the research, development, and commercialization of eye care products makes them the ideal company to continue the development of sepofarsen and ultevursen for patients with rare genetic eye diseases,” said Daniel A. de Boer, Founder and Chief Executive Officer of ProQR. “We look forward to continuing to advance our Axiomer RNA editing platform, with an initial focus on targets for cholestatic and cardiovascular diseases, as we seek to develop a new class of therapies for patients with high unmet need.” The transaction is expected to close in the third quarter of 2023, subject to the satisfaction of certain closing conditions.