BUZZ-MeiraGTx climbs as Sanofi makes $30 million investment

+0.52%

+0.37%

-0.90%

-0.06%

Dow Jones Industrial Average DJI	41704.79	+0.52%
S&P 500 INDEX SPX	5659.56	+0.37%
MEIRAGTX HOLDINGS PLC MGTX	7.72	-0.90%
NASDAQ IXIC	17744.00	-0.06%

** MeiraGTx Holdings PLC's shares MGTX.O rise 24% to $4.6 premarket

** Drug developer says Sanofi SASY.PA has made a $30 mln strategic investment in co through the purchase of 4 mln shares at $7.5 apiece

** MGTX says it is being approached by multiple parties with strategic interest in different assets and is actively pursuing these options

** Sanofi to receive right of first negotiation for the use of MGTX's gene regulation technology for certain Immunology and Inflammation and Central Nervous System (CNS) targets

** Sanofi will also get the right of first negotiation for MGTX's mid-phase Xerostomia program

** Evercore Group is serving as financial advisor for MGTX

** Up to Friday's close, stock down ~43% YTD

(Reporting by Khushi Mandowara in Bengaluru)

((Khushi.Mandowara@thomsonreuters.com;))

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