MeiraGTx has secured an investment of up to $400 million from Oberland Capital to help get its late-stage gene therapies across the commercialization finish line.
Earlier this year, MeiraGTx bought back botaretigene sparoparvovec (bota-vec) from Johnson & Johnson, despite the therapy failing to improve vision-guided mobility in patients with X-linked retinitis pigmentosa (XLRP) in a phase 3 trial. Despite the trial miss, the company touted “clinically meaningful benefit” seen in the data and said trial investigators are “enthusiastically supporting filing for regulatory approval of bota-vec” to support patient access.
Alongside this candidate, the company is developing AAV2-hAQP1, a gene therapy for radiation-induced dry mouth. Both therapies have the potential for approval in the next 12 to 24 months, according to a July 7 press release.
Under the new strategic investment, Oberland Capital is delivering an initial $125 million to MeiraGTx in exchange for low single-digit royalties on the candidates, plus a $10 million equity investment.
The gene therapy developer could score another $50 million upon receiving FDA approvals for each of its two candidates.
“We are very pleased to partner with Oberland Capital as we move towards potential commercialization of our late-stage programs for XLRP and radiation-induced xerostomia,” MeiraGTx president and CEO Alexandria Forbes, Ph.D., said in the release. “The size and terms of Oberland Capital’s investment demonstrate exceptional confidence in the strength of the data for these programs to date as well as the large commercial potential for both bota-vec and AAV2-hAQP1.
Additionally, $50 million will be available to MeiraGTx following a positive data readout from the phase 2 trial AQUAx2 in patients with dry mouth, with study completion estimated for the end of this year.
Beyond those funding tranches, the companies could add another $100 million to the pool by mutually agreeing to add products for development or undertaking a business development venture. Oberland Capital has the right to purchase an additional $15 million in equity in MeiraGTx, as well.
In addition to bota-vec and AAV2-hAQP1, MeiraGTx revealed promising phase 2 data in late 2024 on AAV-GAD, a gene therapy aimed at improving motor dysfunction in patients with Parkinson’s Disease. Following these results, the biotech launched a long-term follow up study with this therapy, with study completion estimated for 2029.
“MeiraGTx is in the rare position of having three potentially approvable therapies within the next 12 to 24 months, two of which have significant commercial potential,” Michael Bloom, partner at Oberland Capital, said in the release. “Each of these would be first to market in areas of complete unmet need where there are a large number of patients waiting for these potential treatments.”
In November 2025, Eli Lilly struck a deal with MeiraGTx to license AAV-AIPL1, a gene therapy designed for treatment of Leber congenital amaurosis type 4 (LCA4), a severe retinal disease present at birth, after data showing restoration of vision to 11 children that were born legally blind.