July 7, 2026 —
MeiraGTx announced that it has entered into an agreement with Oberland Capital Management for an investment of up to $400 million, including up to $375 million in non-dilutive royalty funding and up to $25 million in equity investment.
The financing is designed to support MeiraGTx as it advances multiple late-stage genetic medicine programs toward potential commercialization, including AAV2-hAQP1 for grade 2/3 late radiation-induced xerostomia, botaretigene sparoparvovec, or bota-vec, for X-linked retinitis pigmentosa, and AAV-AIPL1 for Leber congenital amaurosis 4.
Under the agreement, Oberland Capital will receive low single-digit capped royalties on net sales of each included product following regulatory approval. The royalty payments are capped at a multiple of the amounts funded, and the agreement includes flexible provisions allowing MeiraGTx to buy back the funded royalty note at any time by paying specified amounts.
The initial funding includes $135 million, consisting of $125 million in exchange for low single-digit royalties on the covered products and a $10 million equity investment. Additional capital includes $50 million available at MeiraGTx’s option tied to positive data readouts from the Phase 2 AQUAx2 study of AAV2-hAQP1 in 2027, $50 million tied to regulatory approval of bota-vec in 2027, and $50 million tied to regulatory approval of AAV2-hAQP1 in 2028.
A further $100 million may be available upon mutual agreement for new products or business development opportunities. Oberland Capital also has the right to purchase an additional $15 million in MeiraGTx equity.
MeiraGTx is a vertically integrated, clinical-stage genetic medicines company developing AAV-based therapies across ophthalmology and other areas of unmet need. The company’s late-stage pipeline includes multiple potentially approvable programs, with bota-vec and AAV2-hAQP1 positioned as key near-term commercialization candidates.
Bota-vec is being developed for X-linked retinitis pigmentosa, or XLRP, an inherited retinal disease that can lead to progressive vision loss and blindness. AAV2-hAQP1 is being developed for radiation-induced xerostomia, a condition characterized by chronic dry mouth following radiation therapy, often in patients treated for head and neck cancers. AAV-AIPL1 is being developed for LCA4, a severe inherited retinal disorder caused by mutations in the AIPL1 gene.
The royalty financing provides MeiraGTx with substantial non-dilutive capital while preserving strategic flexibility around business development and commercialization. The structure also reflects investor confidence in the company’s late-stage AAV gene therapy pipeline and its potential to address diseases with limited or no approved treatment options.
If successful, the financing could help MeiraGTx prepare for global launch activities across multiple first-to-market or differentiated genetic medicine programs over the next 12 to 24 months.
