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BioMarin, DiNAQOR To Develop Gene Therapies For Rare Genetic Cardiomyopathies

(RTTNews) - BioMarin Pharmaceutical Inc. (BMRN) said Sunday that it has reached a preclinical collaboration and license agreement with DiNAQOR AG to develop novel gene therapies to treat rare genetic cardiomyopathies. The company did not disclose financial terms.

DiNAQOR will receive an undisclosed upfront payment and is eligible to receive development, regulatory and commercial milestones on product sales in addition to tiered royalties on worldwide sales.

BioMarin reiterated its 2020 GAAP net income guidance of $20 million to $80 million, inclusive of the collaboration.

The license initially covers DiNAQOR's lead program, DiNA-001 for MYBPC3 hypertrophic cardiomyopathy. Hypertrophic cardiomyopathy is one of the most common genetic heart diseases.

In addition, the companies will collaborate on several of DiNAQOR's other pipeline programs, and BioMarin has the option to extend the license to include these additional programs on similar terms.
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