December 21, 2005 -- In a move that is good for both companies, Avigen sold its gene therapy business to Genzyme. Although the upfront payment was a relatively small $12 million, there are milestones and royalties arrangements, whose details were not released. Among other things, the deal shows that gene-therapy is not dead. Strapped for cash, Avigen had to restructure earlier this year, abandoning gene therapy to concentrate on drugs with a higher likelihood of success. With its greater resources, Genzyme can continue to investigate the field. We look at what Genzyme got and how it fits...
