Targeted Genetics receives milestone payment
Targeted Genetics Corp. (Nasdaq: TGEN) today announced that it has received a milestone payment from Amsterdam Molecular Therapeutics B.V.
The clinical-stage biotechnology company said the payment was made under a licensing agreement that provides Amsterdam Molecular with non-exclusive rights to patents covering Adeno-Associated Virus type 1, which has the potential to be used in the development and commercialization of therapeutic products for the treatment of lipoprotein lipase deficiency.
The amount of the milestone payment was not disclosed.
LPL deficiency in humans is a severe and debilitating disease associated with extremely high serum triglyceride concentrations, high morbidity and increased mortality.
Shares of Targeted Genetics (TGEN) were halted in pre-market trading.
