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Redeye provides a first comment on today’s news regarding the strategic licensing deal with Selecta Bioscience. The partnership, which includes an upfront and early milestone payments of USD 6m, additional milestone payments of up to USD 598m and double-digit royalties on sales, will give Genovis the opportunity to expand in the field of gene therapy and autoimmune diseases. We will review the case and return with a more extended research note, where we will increase our fair value range.

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Genovis AB provides enzymes and technologies for analytical characterization and conjugation of biopharmaceuticals. The principal activities of the company are to develop, produce and market tools for developing new drugs and diagnostics. The Genovis product line comprises of GingisREX, FabRICATOR, GlyCLICK, GingisKHAN, GlycINATOR, Fabulous, lgGZERO, and Enzymes for O-glycan. The company serves mainly the medical device and pharmaceutical industries.