Benzinga | Sep 21, 2021 07:07AM EDT

Novartis Adds Vision Loss Gene Therapy Program Via Arctos Acquisition

* Novartis AG (NYSE:NVS) has acquired Arctos Medical, adding a preclinical optogenetics-based AAV gene therapy program and Arctos' proprietary technology to its ophthalmology portfolio.

* Deal terms were not disclosed.

* Related: Why Did Deutsche Bank Downgrade This Big Pharma Stock?

* Arctos developed its technology as a potential method for treating inherited retinal dystrophies (IRDs) and other diseases that involve photoreceptor loss, such as age-related macular degeneration.

* Arctos' proprietary, light-sensitive optogene is delivered to specific retinal cells using gene therapy, thus turning the targeted cells into replacement photoreceptor-like cells.

* Arctos was initially incubated by +ND Capital and was later supported by Novartis Venture Fund through a Series A financing round led by +ND Capital.

* Price Action: NVS stock is up 0.81% at $83.47 during the premarket session on the last check Tuesday.