@ Biotech company from UF incubator begins IPO | SEBIO

Biotech company from UF incubator begins IPO

Posted by on Mar 28, 2014

ALACHUA, FL. – Applied Genetic Technologies Corporation (NASDAQ:AGTC) was traded for the first time on the NASDAQ Thursday, after having graduated from the University of Florida’s Biotechnology incubator in 2007.

AGTC is a clinical-stage biotechnology company that uses its  gene therapy platform to develop products designed to treat diseases in ophthalmology, according to a news release.

AGTC’s lead product candidates are in the preclinical stage and focus on rare diseases of the eye — including X-linked retinoschisis, achromatopsia and X-linked retinitis pigmentosa — which are caused by mutations in single genes, that significantly affect visual function and currently lack effective medical treatments.

The UF Ophthalmology Department secured $8.4 million National Eye Institute co-grant with AGTC in December for research.

According to Forbes, gene therapy is making a comeback as a means to treat rare diseases because of a paradigm shift towards picking diseases that new research has shown are better candidates for gene therapy, rather than simply which diseases there are no effective treatments for.

http://ow.ly/v8htR

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