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(RTTNews) - Voyager Therapeutics, Inc. (VYGR) announced a strategic collaboration and capsid license agreement with Novartis Pharma AG, a subsidiary of Novartis AG (NVS) to advance potential gene therapies for Huntington's disease and spinal muscular atrophy. Voyager will provide Novartis a target-exclusive license to access Voyager's TRACER capsids and other intellectual property for the respective diseases. Also the companies will collaborate to advance a preclinical gene therapy candidate for Huntington's disease.

Novartis has agreed to pay Voyager $100 million of consideration up front, including a $20 million purchase of newly issued equity in Voyager. Voyager is eligible to receive up to $1.2 billion in milestones, as well as tiered royalties.

Shares of Voyager Therapeutics are up 29% in pre-market trade on Tuesday.

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