Analyst Group: Analyst Group Comment on Circio Holding’s new in vivo eye data showing 50-fold enhanced AAV-circVec expression vs. conventional mRNA-based AAVs
Circio Holding (”Circio” or ”the Company”) announced, on the 26th of February 2026, new in vivo data demonstrating up to 50-fold enhanced gene expression in the eye using the Company’s AAV-circVec 4.0 construct compared to conventional mRNA-based AAV. Circio also confirmed reproducibility of previously reported ~40x enhanced gene expression in heart.
Summary of the news:
- Up to 50x enhanced gene expression in eye with AAV-circVec 4.0
- ~10x outperformance at 90% reduced dose level (eye)
- Additional validation and reproducibility data in heart
- Platform validation demonstrated across multiple tissues
- NOK 68.6m raised in the oversubscribed RI, alongside potential warrant proceeds in Q2-26, provides the financial flexibility to advance pipeline execution
- Upcoming near-term triggers (Q2-26): disease-model efficacy data in eye and heart as well as active T-cell targeting data within the in vivo CAR-T cell therapy program
Conclusion
In summary, Analyst Group believes the new eye data materially strengthen circVec’s strategic positioning within AAV gene therapy. The expanded preclinical data package, demonstrating robust cross-tissue validation and mechanistic confirmation, enhances platform credibility and broadens circVecs potential applicability. In our view, the cumulative strength of the data is increasingly difficult for larger pharmaceutical companies to overlook, reinforcing Circio’s position in potential licensing discussions and supporting a more favorable negotiating dynamic as the platform advances toward disease-relevant milestones. The recently strengthened financial position further supports this trajectory by enabling continued development without near-term funding pressure. From a valuation perspective, the strengthened data package supports a gradual increase in the applied preclinical probability of success in our framework, which will positively impact the risk-adjusted valuation in future updates.
Read Analyst Group’s comment here
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This is a press release from Analyst Group regarding the publication of a comment on Circio Holding. Readers may assume that Analyst Group has received compensation for making the comment. The Company has not been given an opportunity to influence the parts where Analyst Group has had opinions about the Company, future valuation or anything else that could be considered a subjective assessment.