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LogicBio Therapeutics Announces Clinical and Corporate Updates

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LogicBio Therapeutics, Inc. (Nasdaq:LOGC), a clinical-stage genetic medicine company pioneering gene delivery and gene editing platforms to address rare and serious diseases from infancy through adulthood, today announced an update on screening and enrollment activities for the SUNRISE Phase I/II clinical trial of LB-001, the company’s investigational treatment for methylmalonic acidemia (MMA) based on LogicBio’s proprietary gene insertion platform, GeneRide™.

“The first two patients who entered pre-dosing screening activities did not meet all of the enrollment criteria for the SUNRISE trial, each for different reasons, and we will continue to screen additional patients in the coming weeks,” said Daniel Gruskin, M.D., senior vice president and head of clinical development at LogicBio. “With COVID-19 restrictions being lifted in some U.S. states, additional clinical trial sites have recently been activated and have begun recruiting and screening patients.”

“We expect to enroll our first patient in the SUNRISE trial by mid-year 2021, which represents a slight delay from our earlier communications,” said Frederic Chereau, president and chief executive officer of LogicBio. “We are also pleased to report that we have pre-identified enough patients to fully enroll SUNRISE, assuming a certain number of screening failures.”

Today, LogicBio also announced a strategic collaboration with CANbridge Pharmaceuticals and research partnership with Daiichi Sankyo.

LogicBio entered into a strategic collaboration with CANbridge Pharmaceuticals for an exclusive option to license LB-001 in Greater China (China, Taiwan, Hong Kong and Macau). The deal also grants CANbridge a worldwide license with respect to AAV sL65, the first capsid based on LogicBio’s proprietary sAAVyTM platform, to support development and commercialization of CANbridge’s gene therapy programs for Fabry disease and Pompe disease, with options for two additional indications. Under the terms of the agreement, LogicBio is eligible to receive an upfront payment of $10 million in addition to up to $581 million in option payments and milestones payments, as well as up to double-digit royalties. A separate press release with more details can be found on LogicBio’s investor relations website.

LogicBio also entered into a research collaboration with Daiichi Sankyo for the development of treatments for two indications based on GeneRide™. The agreement also grants Daiichi Sankyo an option to negotiate and acquire worldwide licenses to LogicBio’s development programs in these indications

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