MeiraGTx Announces $30 Million Strategic Investment from Sanofi; Company Pursuing Multiple Additional Strategic Opportunities

• Sanofi to purchase $30 million of ordinary shares of the Company at a price of $7.50 per share

• Sanofi to receive a right of first negotiation (ROFN) for the use of MeiraGTx’s Riboswitch gene regulation technology for certain Immunology and Inflammation (I&I) and Central Nervous System (CNS) targets, as well as for GLP-1 and other gut peptides for metabolic disease, and for MeiraGTx’s Phase 2 Xerostomia program
  
• In addition, MeiraGTx has been approached by multiple parties with strategic interest in different assets of the Company and is actively pursuing these options
  

LONDON and NEW YORK, Oct. 30, 2023 (GLOBE NEWSWIRE) -- MeiraGTx Holdings plc (Nasdaq: MGTX), a vertically integrated, clinical stage gene therapy company, today announced strategic updates including that Sanofi has made a $30 million strategic investment in the Company through the purchase of 4.0 million ordinary shares at a price of $7.50 per share.

“We are very pleased with this first strategic investment from Sanofi,” said Alexandria Forbes, Ph.D., president and chief executive officer of MeiraGTx. “We view Sanofi’s interest in our Riboswitch gene regulation technology and our clinical Xerostomia program as further validation of the broad potential of our vertically integrated platform and we are excited to work with Sanofi as we advance these programs.” 

Paul Hudson, chief executive officer of Sanofi, added, “Our mission at Sanofi is to deliver first or best in class medicines and vaccines for patients. So, we welcome technological innovations that help us chase the scientific miracles of the future.  We believe that MeiraGTx’s Riboswitch platform, supported by its unique manufacturing capabilities, is such a technology. We look forward to working along side MeiraGTx as this innovative science moves forward to create a new generation of breakthrough medicines for immune-mediated and neurological diseases.”

Dr. Forbes continued, “MeiraGTx is a broad-based genetic medicines company, with late-stage clinical programs, world leading end-to-end manufacturing capabilities and infrastructure, and a transformative Riboswitch gene regulation technology. As a result of the breadth of interest over the past several months from multiple parties around mutually beneficial strategic transactions involving certain assets of the Company, we have engaged Evercore and Wachtell Lipton to work with management and our Board of Directors to execute one or more of these additional potential strategic transactions and maximize value for our shareholders.”