Ocugen rises on Mideast licensing deal for experimental blindness gene therapy
BUZZ-Ocugen rises on Mideast licensing deal for experimental blindness gene therapy ** Shares of biotech firm Ocugen OCGN.O rose 2% to $1.49
** Co says it agreed to license experimental gene therapy OCU400 for retinitis pigmentosa, a rare inherited eye disease that causes progressive vision loss, in the Middle East and North Africa
** Deal with Roots Pharmaceutical and partner Al-Dhow International Holding includes up to $4 mln in upfront and early development payments
** Ocugen could receive up to $255 mln in sales milestone payments, a 22% royalty on net sales and will supply OCU400 to partners
** Co says it expects to finalize the agreement within the next three months
** OCU400 is being tested in a late-stage study, with data expected in early 2027 and a regulatory filing planned thereafter
** As of last close, stock up ~9% YTD
(Reporting by Sahil Pandey in Bengaluru)