WILMINGTON, Mass. - Charles River Laboratories International, Inc. (NYSE: CRL) has entered into a collaboration with Axovia Therapeutics Ltd. to manufacture plasmid DNA to support Axovia's gene therapy development for Bardet-Biedl Syndrome (BBS), a genetic condition with currently no cure and few treatment options.
BBS is one of over 20 identified ciliopathies, a group of disorders caused by defects in cilia, which can lead to a range of health issues including vision and hearing loss, chronic infections, and metabolic diseases.
Axovia's lead gene therapy candidate, AXV101, utilizes an adeno-associated virus to target retinal dystrophy associated with BBS. Preclinical studies have shown promise in modifying the disease's progression, particularly in preventing vision loss and obesity-related to BBS.
Charles River will utilize its eXpDNA™ platform to produce High Quality (HQ) plasmid DNA, a key starting material for gene therapies. This collaboration is part of Charles River's broader effort to expand its cell and gene therapy portfolio, providing comprehensive services from concept to cure.
The FDA has granted Axovia Orphan Drug and Rare Pediatric Disease Designations for AXV101, recognizing the therapy's potential to address unmet medical needs in BBS treatment.
Kerstin Dolph, Corporate Senior Vice President of Global Manufacturing at Charles River, stated the company's commitment to supporting Axovia's efforts to develop treatments for ciliopathies, leveraging their extensive experience in plasmid DNA development.
Victor Hernandez, Co-Founder and Chief Scientific Officer of Axovia, expressed enthusiasm for the collaboration and the expertise Charles River brings to plasmid DNA production.
Charles River's offerings encompass a range of services critical to drug development, assisting clients in accelerating research and safe manufacturing of new therapies. Similarly, Axovia Therapeutics is focused on advancing gene therapies for ciliopathies, with a product pipeline aimed at addressing these complex disorders.
This partnership is poised to advance the development of gene therapies for BBS and potentially offer new hope for patients affected by this and other ciliopathies.
The information for this article is based on a press release statement.
InvestingPro Insights
Charles River Laboratories International, Inc. (NYSE: CRL) is showcasing its commitment to innovation and collaboration in the biotechnology sector with its recent partnership with Axovia Therapeutics Ltd. This move aligns with their broader strategy to enhance their cell and gene therapy portfolio, indicating a forward-thinking approach in a rapidly evolving industry.
InvestingPro data highlights Charles River's robust financial performance, with a market capitalization of 13.09 billion USD, reflecting the company's significant presence in the market. The P/E ratio stands at 27.64, suggesting that investors are confident in the company's earnings potential. Additionally, the company's revenue for the last twelve months as of Q4 2023 is reported at 4129.41 million USD, with a gross profit margin of 37.03%, underscoring the company's ability to maintain profitability.
Two InvestingPro Tips that are particularly relevant to Charles River at this time include the company's strong return over the last three months, with an 18.46% price total return, and the prediction from analysts that the company will be profitable this year. These insights reflect the positive momentum and market confidence in Charles River's business model and strategic initiatives.
For investors looking to delve deeper into Charles River's financial health and future prospects, additional InvestingPro Tips are available at InvestingPro. There are 6 more tips listed, offering comprehensive analysis that could guide investment decisions. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which can provide further valuable insights into companies like Charles River.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.