MeiraGTx announced it will reacquire botaretigene sparoparvovec (bota‑vec) from Johnson & Johnson, paying $25 million upfront plus a milestone payment and future royalties. This follows J&J’s decision to divest the asset after the Phase 3 LUMEOS trial failed to meet its primary endpoint in May 2025.
The transaction reverses a 2023 deal in which J&J had paid up to $415 million for the rights to bota‑vec. The reacquisition allows MeiraGTx to pursue global regulatory filings for the therapy, which targets X‑linked retinitis pigmentosa, a rare genetic eye disease with no approved treatments.
J&J’s divestiture comes after the LUMEOS trial, which evaluated the therapy’s effect on vision‑guided mobility, did not meet its primary endpoint. The failure prompted J&J to return the asset, a move that aligns with its strategy to focus resources on assets with stronger clinical prospects.
The announcement was met with investor skepticism, as analysts noted concerns about the company’s plan to seek approval for a therapy that failed its pivotal study. MeiraGTx cited physician feedback and observed benefits in some patients as justification for proceeding.
The reacquisition is part of MeiraGTx’s broader strategy to build a portfolio of gene‑therapy candidates. The company has completed process performance qualification for bota‑vec and has several hundred vials ready for use upon approval, positioning it to move quickly if regulatory clearance is obtained.
J&J’s Q1 2026 earnings, released two days earlier, showed sales of $24.1 billion and adjusted EPS of $2.70, up 9.9 % and 0.7 % respectively from the same quarter a year earlier. The company raised its full‑year 2026 guidance, projecting sales of $100.8 billion at the midpoint, underscoring its confidence in growth across its oncology, immunology, and neurology platforms.
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