Avalanche Biotechnologies Inc(NASDAQ:AAVL) Falls Over 4% Despite exclusive license agreement Print E-mail
By Josh Gee   
Wednesday, 25 March 2015 14:29
Avalanche Biotechnologies Inc. (NASDAQ:AAVL) shares slid 4% despite the company has announced that it has entered into an exclusive license agreement with University of Washington in Seattle for developing products based on Avalanche's proprietary Ocular BioFactory" Platform. This platform is intended to treat color vision deficiency (CVD), which is also known as red-green color blindness.

 

The firm also stated that Drs. Jay and Maureen Neitz, faculty in the UW's Department of Ophthalmology and CVD experts, are now a part of Scientific Advisory Board. The two would be technical advisors to the firm on the science of vision.

 

Thomas W. Chalberg, Jr., Ph.D., founder and chief executive officer of Avalanche Biotechnologies, said that the agreement with well known vision scientists as well as University of Washington would aid in advancement of the goal for development of therapeutic products for many people suffering from CVD.

 

He added that the firm’s proprietary technology would help in targeting the retina through intravitreal adeno-associated virus delivery making it the first time to pursue those things considered untreatable earlier such as ophthalmic condition CVD.

 

Avalanche would be building on gene therapy research done by the Neitz research team at the UW. The team utilised gene therapy for conferring color vision in two adult male squirrel monkeys who were colorblind since birth.

 

This astonishing work demonstrated proof-of-concept for treating CVD and was published in the journal Nature.

Jay Neitz, Ph.D, professor of ophthalmology, stated that Avalanche is performing pioneering research which has potential to cure CVD

 

The firm also launched www.colorvisionawareness.com, a website which helps in creating awareness of the disease for helping those who suffer from color blindness better understand their condition.

 

The site gives the opportunity to people to sign up and also get information about potential research study opportunities or therapies for the disease.

 




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