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Novartis Buys Avrobio Gene Therapy for $88 Million

Purchases stem cell gene therapy program for cystinosis.

By: Rachel Klemovitch

Assistant Editor

Novartis has made a deal to buy Avrobio’s investigational hematopoietic stem cell (HSC) gene therapy program focusing on cystinosis treatment of cystinosis, a rare genetic disease. This was a $87.5 million cash deal expected to extend Avrobio’s cash runway into the fourth quarter of 2024.   Avrobio is a leading company in clinical-stage gene therapy and will continue to have full rights to its HSC gene therapy portfolio. This first-in-class HSC gene therapy focuses on lifetime generic di...

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