Applied Genetic Technologies Earns $10 Mln In Milestone Payment - Quick Facts

(RTTNews) - Applied Genetic Technologies Corp. (AGTC) announced it has enrolled the first patient of the second cohort in the company's Phase 1/2 clinical trial evaluating the safety and efficacy of an investigational AAV-based gene therapy for the treatment of X-linked retinitis pigmentosa. Under the terms of its collaboration with Biogen (BIIB), AGTC will receive a milestone payment of $10 million.

"We are pleased to announce this important milestone under our collaboration with Biogen and remain on track to complete the dose escalation portion of the trial in the first quarter of 2019," said Sue Washer, President and CEO of AGTC.