Modalis Therapeutics Corporation announced the expiration of its research collaboration with Astellas, for the development of Angelman Syndrome. Modalis and Astellas Pharma Inc. have been pursuing their Angelman Syndrome program through discovery activities with Modalis' proprietary technology, CRISPR-GNDM. Astellas has notified of its decision not to extend the joint research program for MDL-206, which has been
underway since 2020. All rights to MDL-206 will be returned to Modalis, and the Company will continue to advance the program internally. Additional research programs with Astellas will continue as currently planned. Upon the separation, Modalis regains all rights to develop gene therapies targeting Angelman Syndrome with CRISPR-GNDM® technology. This allows Modalis to fully leverage its expertise in engineering, biology, regulatory, and manufacturing of gene therapies to expand its wholly owned CRISPR-based portfolio to include Angelman Syndrome. Modalis further regains the right to partner its Angelman Syndrome programs in the future.