$150M Deal: Regeneron and Tessera Collaborate on Gene Therapy for 200,000 AATD Patients

Tarrytown, NY and Somerville, MA, December 1, 2025 (Globe Newswire) -- Regeneron Pharmaceuticals and Tessera Therapeutics are collaborating to develop TSRA-196, an in vivo Gene Writing therapy targeting alpha-1 antitrypsin deficiency (AATD), a genetic disease affecting lungs and liver in roughly 200,000 people in the U.S. and Europe. The therapy aims to correct the underlying mutation and restore functional protein through a one-time durable treatment. Tessera will lead initial human trials, Regeneron will manage global development and commercialization, and both companies will share costs and profits equally, with Tessera receiving $150 million upfront plus potential $125 million in milestones.

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