UniQure Expands Gene Therapies Pipeline For Neurological Disorders With Corlieve Acquisition

UniQure N.V. QURE has agreed to acquire Corlieve Therapeutics and its lead program for temporal lobe epilepsy (TLE), the most common form of focal epilepsy.
The company will pay €46.3 million in an upfront cash payment.
Corlieve shareholders are eligible to receive up to €43.7 million in development milestones through Phase 1/2 and €160 million in milestones associated with Phase 3 development and the approvals of AMT-260.
Corlieve's lead gene therapy program employs miRNA silencing technology to target suppression of aberrantly expressed kainate receptors in the hippocampus of patients with TLE.
Upon closing the transaction, Richard Porter, founder and Chief Executive Officer of Corlieve, will assume the role at UniQure of General Manager of the Corlieve subsidiary.
UniQure held $260.81 million in cash and equivalents as of March 31, 2021.
Price Action: QURE shares are down 5.6% at $31 during the market trading session on the last check Tuesday.