Biogen plans to launch gene therapy and gene editing collaboration with University of Pennsylvania

Biogen Inc. said Monday morning it would collaborate with the University of Pennsylvania on an up to $2 billion project to develop gene therapy and gene editing programs and technologies. The effort will have a particular focus on therapeutic approaches for the eye, skeletal muscle and the central nervous system, Biogen said. The company plans to pay the university $20 million with an additional $62.5 million for research and development costs over the next several years, with the school's seven programs eligible for $77.5 million to $137.5 million at various product milestones along with royalties on product sales. Biogen said it will have an option to license gene transfer technology using adeno-associated virus vectors for the company's outside use. Shares of the company were up 0.9% Monday morning after the announcement. Biogen stock has risen 3.0% in the last three months, compared with an 8.6% rise in the S&P 500 .

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