The proposed acquisition builds on Regeneron’s existing partnership with Decibel and will advance key gene therapy programs for hearing loss.
Under the terms of the proposed deal, Regeneron will pay $109 million to Decibel upon closing, and up to $213 million if specific milestones are met. The pair first teamed up in 2017 to find and develop gene therapies for hearing loss. In November 2021, they extended their collaboration and added two additional gene therapy programs targeting various forms of congenital, monogenic hearing loss.
DB-OTO, a shared gene therapy program, is an investigational cell-selective adeno-associated virus (AAV) designed to provide hearing for people with otoferlin-related hearing loss. It is currently in its first clinical trial.
DepositPhotos/belchonock
“We are delighted to announce the planned acquisition of Decibel, who have been long-standing collaborators, notable for their deep scientific knowledge and commitment to people with hearing loss,” said George Yancopoulos, chief scientific officer, of Regeneron.
“DB-OTO, our shared lead investigational gene therapy, will soon reach patients in its first clinical trial, offering new promise to children with this rare form of congenital hearing loss, as well as potential proof-of-concept for future gene therapies addressing more common forms of genetic hearing loss. We believe that Decibel’s assets and specialized team will further strengthen our genetic medicines portfolio, enabling Regeneron to accelerate the development of innovative genetic therapies and a rich pipeline of hearing loss treatments.”
Once the tender offer is completed, Regeneron will then acquire all shares not attained in the tender through a second-step merger. The deal is expected to close in Q3 this year.
“We have built a pipeline of gene therapy product candidates for the ear that we believe have such potential. After full consideration, the Decibel Board has determined that this transaction is the best way to maximize shareholder value and ultimately benefit patients,” said Laurence Reid, CEO of Decibel.
“We have collaborated with our colleagues at Regeneron for the past six years and have huge respect for their research and development capabilities. We have full confidence that with Regeneron’s expertise and resources the Decibel pipeline can be optimally developed, and our team is committed to enabling that long-term success.”
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