Top 10 AI News Updates Taking Wall Street By Storm

8. MeiraGTx Holdings plc (NASDAQ:MGTX)

Number of Hedge Fund Holders: 15

MeiraGTx Holdings plc (NASDAQ:MGTX) is a clinical-stage genetic medicine company committed to harnessing the full potential of genetic therapies for both rare and prevalent diseases. It focuses on treatment for ocular, salivary gland, and central nervous system disorders. On March 13, the company announced the inking of a strategic collaboration with Hologen Limited, a leading developer of multi-modal generative AI foundation models of real-world clinical data.

In return, the companies agreed to form a joint venture dubbed the Hologen Neuro AI Ltd. MeiraGTx will receive $200 million in upfront cash as part of the deal. On the other hand, Hologen Neuro Ltd is to receive up to $230 million from Hologen to fund the development of AAV GAD for treating Parkinson’s disease. Combining Hologen’s AI models with MeiraGTx’s clinical datasets offers a fresh way to pinpoint patient subgroups that are more likely to react and adjust trial design settings.

“The use of Hologen’s AI to elucidate brain circuitry in this complex heterogeneous disease has already significantly de-risked the AAV-GAD Phase 3 program when applied to MeiraGTx’s Phase 2 clinical data sets and has identified disease modifying changes in the physiology of the brain in response to AAV-GAD treatment,” Alexandria Forbes, PhD, co-founder, president and CEO of MeiraGTx stated.