Singapore - GSK and Orchard Therapeutics signs a strategic agreement, under which GSK will transfer its portfolio of approved and investigational rare disease gene therapies to Orchard, securing the continued development of the programmes and access for patients.

Under the agreement, GSK will become an investor in Orchard Therapeutics, receiving a 19.9% equity stake along with a seat on the company’s board. GSK will also receive royalties and commercial milestone payments related to the acquired portfolio.

GSK shares are up 1% premarket.