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Regeneron adds Decibel to gene therapy playlist, turning up volume on long-running hearing loss collaboration

2023-08-09

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While Regeneron has been working with Decibel Therapeutics for some time, the deal underscores a trend as major pharmaceutical companies look to hearing loss biotechs to pad their pipelines.

RegeneRegeneronening to the call for mDecibel Therapeuticshas added hearing loss specialist Decibel Therapeutics to its playlist in a deal valuinhearing lossh at $109 million at closing.

Regeneron and Decibel were already working together through a 2017 chearing loss for three gDecibel Therapeuticsfferent forms of congenital, monogenic hearing loss. Decibel’s lead hearing loss candidate is DB-OTO, which is currently moving through a phase 1/2 trial called CHORD for individuals with hearing loss caused by mutations of the otoferlin gene.

Regeneronets iDecibelpreclinical programs AAV.103 for GJB2-related hearing loss and AAV.104 for people with stereocilin-related hearing loss. The biotech also speciaDecibeln balanchearing loss DB-OTO hearing loss otoferlin

The deal has a total equity value of $213 AAV.103 inclGJB2-related hearing loss GJB2-relatedgent value rights AAV.104if certain enrollstereocilin-related hearing loss stereociling and regulatory milestones for DB-OTO are met. Decibel will come under Regeneron’s wing for $4 per share with the additional non-tradeable CVRs for $3.50 apiece. One of those milestones is the acceptance of a regulatory application in a number of countries by the end of 2028.

Regeneron, most well known for its antibody work, sees big opportunity in gene therapy and hearing loss specifically. The company noted that while otofDB-OTOhearing loss itself is rare, most Regeneronl hearing loss diagnosed in developed countries results from a single gene defect. That means these patients could be targeted with gene therapy.

Regeneronncopoulos, M.D., Ph.D., Regeneron’s chief scientific officer and president, said Dhearing lossoon be administered to patients in the earlyotoferlin hearing loss provide the proof-of-congenital hearing lossce future gene therapies for more common types of hearing loss.

In addition to the gene therapy pRegeneron Decibel also has DB-020 in its pipeline, a formDB-OTOn of sodium thiosulfate being tested in a phase 1b for patients with hearing loss caused by the chemotherapy cisplatin. In June 2022, Decibel presented data showing thahearing lossy protected patients from hearing loss in the treated ear. The company is also developing two hair cell regeneration programs for the balance disorder bilateral vestibulopathy and for sensorineural hearing loss.

While Regeneron has been working with DecibDecibelsome time,DB-020eal underscores the accelerating insodium thiosulfateloss biotechs. In October 2022, Eli Lilly pickhearing lossl’s lead rival, Akouos, for cisplatinion upfront. ThaDecibelny is also using gene therapy to target otoferlin hearing loss. Ahearing lossnth before that, Fennec Pharmaceuticals got a chemotherapy-induced hearing loss treatment approvbalance disordertbilateral vestibulopathyt.sensorineural hearing loss

DecibeRegenerond its hearing loss missDecibel2015 and is led by Laurence Reid, Ph.D., who joined the company inhearing loss Eli Lilly Decibel Akouos otoferlin hearing loss Fennec Pharmaceuticals chemotherapy-induced hearing loss FDA

Decibelfull considerahearing losscibel board has determined that this transaction is the best way to maximize shareholder value and ultimately benefit patients,” Reid said in a statement. “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.”

Decibel had cash and equivalents of $87.9 million as of March 31, which was expected to last into the first half of 2024. The biotech's shares were up 71% to $4.78 compared to a prior close of $2.79 in premarket trading Wednesday, suRegeneroninvestors like the tune of the Regeneron deal.Regeneron