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Finance

Novartis buys Avrobio’s gene therapy for cystinosis

by Laura Howes
June 4, 2023 | A version of this story appeared in Volume 101, Issue 18
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The Swiss drug company Novartis will pay $87.5 million for Avrobio’s investigational stem cell treatment for cystinosis, a rare genetic disorder characterized by the accumulation of the amino acid cystine in the body. Avrobio recently announced positive Phase 1/2 trial data for the treatment, but the deal comes with no later milestones or royalties agreed. The biotech’s other gene therapies will stay with the Cambridge, Massachusetts–based firm.

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