Wave Life Sciences (WVE) Rises 33% As They Enter Collaboration With GSK

Wave Life Sciences (WVE), a clinical-stage genetic medicines company, rose 33% for the day as they announced a new strategic partnership with GSK. Wave receives upfront payments of $170 million in cash and equity, and is also eligible to receive milestone payments and royalties. The collaboration brings together Wave’s PRISM oligonucleotide platform and GSK’s expertise in genetics and genomics.

Additionally, GSK receives exclusive global license to Wave’s prelicinical RNA editing program, WVE-006.

Paul Bolno, MD, MBA, President and Chief Executive Officer, Wave Life Sciences, said:“For the past decade, Wave has been building a unique oligonucleotide platform that combines novel chemistry with the means to optimally address disease biology through multiple therapeutic modalities. In 2022, we started to deliver on the promise of our platform with the first data showing translation in the clinic for our next-generation stereopure PN-chemistry containing candidates. Now with our GSK collaboration, we are excited to leverage their expertise in genetics to continue building a differentiated oligonucleotide pipeline, with a focus on our best-in-class RNA editing and upregulation capability. Additionally, GSK is the ideal partner for our WVE-006 program, due to their longstanding history and global reach in respiratory diseases. The collaboration meaningfully extends our cash runway into 2025 and offers the potential for significant future milestones, providing new resources to deliver life-changing medicines to patients.”

More details about the partnership can be found here.

About Wave Life Sciences
Wave Life Sciences (Nasdaq: WVE) is a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases. Wave aspires to develop best-in-class medicines across multiple therapeutic modalities using PRISM, the company’s proprietary discovery and drug development platform that enables the precise design, optimization, and production of stereopure oligonucleotides. Driven by a resolute sense of urgency, the Wave team is targeting a broad range of genetically defined diseases so that patients and families may realize a brighter future. To find out more, please visit www.wavelifesciences.com and follow Wave on Twitter @WaveLifeSci.