On Thursday, MeiraGTx Holdings plc MGTX announced a broad strategic collaboration with Hologen Limited, a developer of multi-modal generative AI foundation models of real-world clinical data for clinical medicine and pharmaceutical drug development.

MeiraGTx will receive $200 million in upfront cash, and MeiraGTx and Hologen are forming a joint venture, Hologen Neuro AI Ltd.

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Additionally, the joint venture, Hologen Neuro AI Ltd, will be funded with capital of up to $230 million from Hologen to fully finance the development of AAV-GAD for Parkinson’s disease through commercialization. Hologen will also fund earlier-stage clinical programs in the central nervous system (CNS), including AAV-BDNF for genetic obesity.

Hologen will contribute its multi-modal generative foundation models (LMMs) to the joint venture. In forming this joint venture, MeiraGTx and Hologen have created the first neuro-AI clinical drug development company.

MeiraGTx will retain 30% ownership in the Hologen Neuro AI Ltd joint venture and will lead all clinical development and manufacturing. MeiraGTx will also enter into exclusive clinical and commercial manufacturing supply agreements with the joint venture.

In addition, Hologen will own a minority stake in MeiraGTx’s manufacturing subsidiary and contribute to its annual funding.

Hologen is deploying its generative AI capabilities to further optimize MeiraGTx’s proprietary manufacturing capabilities by utilizing MeiraGTx’s unique data lakes, which were built over nine years of development of MeiraGTx’s manufacturing platform process.

MeiraGTx’s AAV-GAD program for Parkinson’s disease is Phase 3 ready, with commercial manufacturing ongoing in-house at MeiraGTx.

The transactions are expected to close in the second calendar quarter of 2025.

Price Action: At the last check Thursday, MGTX stock was up 24.80% to $8.00.

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