Replay’s equity holders will receive USD 50 million upfront, plus milestone payments and tiered single-digit royalties. 

“Using our AI‑powered scouting platform we identified Replay as a high‑potential op-portunity. The acquisition aligns with our stra-tegy of investing in the most impactful opportunities in dermatology and positions us at the forefront of next‑generation gene the-rapy,” says Christophe Bourdon, CEO. 

Replay’s lead drug candidate is currently in preclinical studies for the treatment of the rare genetic condition dystrophic epidermolysis bullosa (DEB). Replay is headquartered in San Diego, California.