BioTech REGN

Regeneron, Tessera Enter Collaboration To Develop TSRA-196

December 01, 2025 — 07:23 am EST

Written by RTTNews.com for RTTNews

(RTTNews) - Regeneron Pharmaceuticals (REGN) and Tessera Therapeutics announced a collaboration to develop and commercialize TSRA-196, Tessera's lead investigational in vivo Gene Writing program for the treatment of alpha-1 antitrypsin deficiency. Tessera expects to file an Investigational New Drug and multiple Clinical Trial Applications for TSRA-196 with the FDA by the end of the year.

The companies will share worldwide development costs and potential future profits relating to TSRA-196 equally. Tessera will receive $150 million, inclusive of a cash upfront payment and equity investment from Regeneron. Tessera is eligible to receive additional near and mid-term development milestone payments totaling $125 million. Tessera will lead the initial first-in-human trial. Regeneron will lead subsequent global development and commercialization.

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