BridgeBio to reduce gene therapy budget more than $50M

Alongside presentation of topline results from Phase 1/2 trial of investigational gene therapy for congenital adrenal hyperplasia, BridgeBio said it is reducing gene therapy budget more than $50M. “Given that the results of the trial did not meet the threshold to warrant additional capital investment at this time, BridgeBio will be reducing the gene therapy budget more than $50M, consistent with our capital allocation principles, and reserving gene therapy for priority targets that we cannot treat any other way,” said Brian Stephenson, Chief Financial Officer of BridgeBio. “We believe that gene therapies have the potential to fulfill a significant unmet need and are eager to work closely with the FDA and the Canavan community with the goal of bringing our therapy to families living with Canavan disease as fast as possible.” BridgeBio will no longer be pursuing development of BBP-631 for CAH and the company is actively seeking partnership opportunities to support future development of BBP-631 or next-generation gene therapies for the treatment of CAH.