On July 7, 2026 MeiraGTx Holdings plc (Nasdaq: MGTX), a vertically integrated, clinical stage genetic medicines company, reported that it has entered into an agreement with Oberland Capital Management LLC (Oberland Capital) for an investment of up to $400 million in the Company, including up to $375 million in non-dilutive capital for capped royalty payments on certain products and up to $25 million in equity.
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"We are very pleased to partner with Oberland Capital as we move towards potential commercialization of our late-stage programs for XLRP and radiation-induced xerostomia," said Alexandria Forbes, Ph.D., president and chief executive officer of MeiraGTx. "The size and terms of Oberland Capital’s investment demonstrate exceptional confidence in the strength of the data for these programs to date as well as the large commercial potential for both bota-vec and AAV2-hAQP1."
Dr. Forbes continued, "Having multiple late-stage products allowed for a creative structure with low royalties on more than one product, which provides substantial non-dilutive capital while preserving business development flexibility in all aspects of the Company."
Michael Bloom, Partner at Oberland Capital, added, "MeiraGTx is in the rare position of having three potentially approvable therapies within the next 12 to 24 months, two of which have significant commercial potential. Each of these would be first to market in areas of complete unmet need where there are a large number of patients waiting for these potential treatments. We are excited to partner with the MeiraGTx team and provide substantial investment to enable robust commercialization and launch efforts globally."
Transaction Overview:
The investment by Oberland Capital provides for up to $400 million in total capital to MeiraGTx, including up to $375 million in non-dilutive royalty funding and up to $25 million in equity, as follows:
The initial $135 million funded includes $125 million in exchange for low single-digit royalties on the included products, and a $10 million equity investment
An additional $50 million will be available at the Company’s option tied to AAV2-hAQP1 positive data readouts from the Phase 2 AQUAx2 study in 2027
An additional $50 million will be available at the Company’s option tied to regulatory approval of bota-vec in 2027
An additional $50 million will be available at the Company’s option tied to regulatory approval of AAV2-hAQP1 in 2028
A further $100 million is available upon mutual agreement for new products or business development
Oberland Capital has the right to purchase an additional $15 million in equity in MeiraGTx
The agreement with Oberland Capital includes flexible provisions for potential change of control, with the ability for the Company to buy back the entire funded royalty note at any time by paying certain specified amounts.
Royalty payments are capped at a multiple of the amounts funded.
Additional details regarding the agreement with Oberland Capital can be found in the Current Report on Form 8-K filed by the company today with the U.S. Securities and Exchange Commission.
(Press release, MeiraGTx, JUL 7, 2026, View Source [SID1234669102])