UniQure Acquires InoCard

(RTTNews) - uniQure N.V. (QURE) said Monday that it has acquired InoCard GmbH, an innovative, early-stage biotechnology company focused on the development of gene therapy approaches for cardiac disease. InoCard has developed a novel gene therapy to preclinical proof of concept, for the one-time treatment of congestive heart failure.

Under the terms of the deal, InoCard shareholders will receive an upfront payment of EURO3 million, consisting of EURO1.5 million in cash and EURO1.5 million in uniQure stock, and certain success-based milestones and royalties.

InoCard founders Prof. Patrick Most and Prof. Hugo Katus will join uniQure as Managing Director of uniQure in Germany and Chairman of the Scientific Advisory Board, for Cardiovascular Diseases, respectively.