Applied Genetic Technologies, an Alachua, Fla., gene-therapy developer, received a $2 million milestone payment from Genzyme.
The two companies are jointly developing a gene therapy for treating a form of blindness called age-related macular degeneration. The treatment uses an adeno-associated virus designed to deliver a gene to eye cells that, when activated, will disrupt a protein called VEGF that stimulates the growth of leaky blood vessels that contribute directly to blindness.
The milestone payment covered the successful transfer of AGT's adeno-associated virus production technology to Genzyme. The gene-therapy treatment doesn't appear to be ready for clinical trials yet.