The $53 million deal will create “strong synergies” by combining key assets, people, skills and intellectual property; while Rocket will receive Renovacor’s REN-001, an AAV-based gene therapy targeting BAG3-associated dilated cardiomyopathy (DCM), a severe form of heart failure (for which Rocket highlights Renovacor’s “convincing preclinical data”)
Headquartered in New Jersey, Rocket currently has four gene therapies in clinical trials. These include a phase 1 study for the rare genetic condition Danon disease; and it sees a “comparable, significant commercial opportunity” for BAG3-associated dilated cardiomyopathy.
“The acquisition of Renovacor is consistent with our strategy to expand our leadership position in AAV-based gene therapy for heart disease and gives us the perfect opportunity to continue our mission to transform the lives of heart failure patients through the power of gene therapy.”said Gaurav Shah, MD, CEO of Rocket.
“Building on our success to date in Danon disease, I am particularly excited to expand our cardiology focus and capabilities and address a clear unmet medical need in BAG3-associated dilated cardiomyopathy. By combining Renovacor’s compelling preclinical work with our combined clinical, regulatory and CMC expertise, we believe we will be well-positioned to bring the highest impact and best chance of success gene therapy to these patients in the most productive and efficient way to deliver.
“Given the previously announced positive pediatric safety data from our Phase 1 RP-A501 Danon Disease program and the upcoming pediatric efficacy data and longer-term adult cohort data, we anticipate a presentation at the Heart Failure Society of America (HFSA) Scientific Meeting. At the end of this month, this strategic acquisition provides what we believe to be the broadest platform in this space to address these devastating rare heart diseases.
“Additionally, the acquisition will bring to Rocket key personnel, namely a team of leading experts in cardiology drug development, critical capabilities and valuable intellectual property to support the further development of the BAG3 as well as other potential cardiac programs, including an arrhythmogenic gene therapy research collaboration.” cardiomyopathy.”
Massachusetts-headquartered Renovacor’s most advanced program, REN-001, is an AAV-based gene therapy targeting BAG3-associated dilated cardiomyopathy (DCM), a severe form of heart failure (BAG3-DCM represents a “significant uncovered medical need” in a patient (population with rapidly evolving cardiac dysfunction in the absence of treatments that target the underlying disease mechanism). Renovacor has developed its gene replacement therapy to treat BAG3-associated DCM by in vivo delivery of a human BAG3 gene to cardiomyocytes.
The transaction is expected to close in the first quarter of 2023, subject to Renovacor and Rocket shareholder approvals, receipt of all necessary customary regulatory approvals and the satisfaction of other customary closing conditions.