Irish biotech firm bought in $15m deal
Irish biotechnology firm Genable Technologies has been acquired by US-based Spark Therapeutics in a deal understood to value it at $15m (€13.6m).
Genable is developing gene therapies for the treatment of dominant genetic diseases, including a condition that is a leading cause of inherited blindness. The treatment for that condition is called RhoNova.
Formerly known as Optigen, Genable was founded on the campus of Trinity College, Dublin, over a decade ago. Investors in the firm included Fountain Healthcare, Delta Partners, ACT, Enterprise Ireland, and Atlantic Bridge.
The latest set of publicly-available accounts for Genable, show that it had an accumulated loss of €7.8m at the end of February last year.
Spark Therapeutics has collaborated with Genable since 2014 in the development of RhoNova.