Gene Therapy Pioneer Jim Wilson Departs UPenn to Launch Two New Biotech Companies

1. Departure and New Ventures: Jim Wilson, a prominent gene therapy researcher, is leaving the University of Pennsylvania (UPenn) to found two new biotech companies, GEMMA Biotherapeutics and Franklin Biolabs.
2. Company Focus: GEMMA Biotherapeutics will focus on developing lower-cost gene therapy platforms for rare diseases, with Wilson as CEO. Franklin Biolabs will offer diagnostic testing and other services to gene therapy companies, with Wilson as board chair.
3. Background: Wilson has led UPenn's gene therapy program for over 30 years and has been instrumental in developing three FDA-approved AAV-based gene therapies.
4. Reason for Spinout: The spinout is due to decreased investment in biotech, necessitating a new model to secure capital and scale activities.
5. Impact on Employees: About 225 employees from the gene therapy program will be offered similar roles in the new companies, while 25 will lose their jobs.
6. Financial and Strategic Considerations: The gene therapy program at UPenn previously generated about $100 million in revenue annually. Wilson's strategy involves developing platforms for treating multiple diseases to increase success probabilities and reduce costs.
7. Immediate Plans: GEMMA Biotherapeutics will start by licensing stalled work from other companies and will initially focus on eight platforms for brain and heart/muscle diseases.