REGN & Tessera Collaborate to Develop Gene-Editing Therapy for AATD

Core Insights - Regeneron Pharmaceuticals has entered a collaboration agreement with Tessera Therapeutics to jointly develop TSRA-196, a gene editing therapy for Alpha-1 Antitrypsin Deficiency (AATD) [1][3][4] - AATD is a genetic disorder affecting approximately 200,000 individuals in the U.S. and Europe [1] Collaboration Details - The collaboration will leverage Regeneron's expertise in genetics and clinical development alongside Tessera's Gene Writing and non-viral delivery platforms [3] - Regeneron will provide Tessera with $150 million, which includes an upfront cash payment and equity investment, plus up to $125 million in milestone payments [4] - Tessera will conduct the initial clinical trial, after which Regeneron will take over global development and commercialization [4] Clinical Development - Tessera plans to file an investigational new drug application and multiple clinical trial applications for TSRA-196 with the FDA by the end of this year [5] - Preclinical data presented by Tessera indicates effective genome editing of the SERPINA1 locus in animal models, supporting the advancement of TSRA-196 into clinical development [5][8] Financial Performance - Regeneron stock has increased by 5.3% year-to-date, while the industry has seen a growth of 20.3% [2] - The company has faced challenges with its lead drug Eylea due to competition, prompting the development of a higher dose formulation, Eylea HD [10][12] - Regeneron's revenue is also supported by its share of profits from Dupixent, which continues to perform well despite the decline in Eylea sales [13]