Passage Bio Inc (PASG)

History and Background

Passage Bio, Inc. (PASG) was a genetic medicines company focused on developing transformative therapies for central nervous system disorders. Founded in 2017 and headquartered in Philadelphia, PA, it aimed to address diseases with limited treatment options using gene therapy approaches.

Core Business Areas

• Gene Therapy Development: Focused on developing adeno-associated virus (AAV) gene therapies targeting rare monogenic central nervous system disorders.

Leadership and Structure

While Passage Bio no longer exists, its leadership team included individuals with experience in gene therapy and rare disease drug development. The company had a board of directors overseeing its strategic direction. The CEO when it was active was Bruce Goldsmith.

Key Offerings

• PBGM01 (GM1 gangliosidosis gene therapy): An AAV gene therapy being developed for the treatment of GM1 gangliosidosis, a rare and fatal inherited lysosomal storage disorder. There is no real market share data available as it was in trials. Competitors in this field include companies developing gene therapies for lysosomal storage disorders, such as AVROBIO and Lysogene. Passage Bio was delisted in 2023.
• PBFT02 (FTLD-GRN gene therapy): An AAV gene therapy being developed for the treatment of frontotemporal dementia with GRN mutations (FTLD-GRN). There is no real market share data available as it was in trials. Competitors in this field include companies developing therapies for neurodegenerative diseases, such as Biogen and Denali Therapeutics. Passage Bio was delisted in 2023.

Industry Overview

The gene therapy industry is a rapidly evolving field focused on developing treatments that address the root cause of genetic diseases. This includes research and development of AAV gene therapies.

Positioning

Passage Bio was positioned as a company specializing in gene therapies for rare central nervous system disorders. Their competitive advantage lied in their AAV gene therapy platform and focus on unmet medical needs in specific genetic disorders. But the company was delisted in 2023.

Total Addressable Market (TAM)

The TAM for gene therapies is substantial, with estimates ranging into the billions of dollars, depending on the disease indications and market penetration. Passage Bio was positioned to address a portion of this TAM by focusing on rare CNS disorders.

Key Competitors

• AVRO
• SNY
• BLUE

Competitive Landscape

Passage Bio was a small player in the gene therapy space, facing competition from larger and more established pharmaceutical companies. Due to being delisted it no longer competes. Competitors like AVROBIO and Sanofi (SNY) operate in similar therapeutic areas but have more advanced pipelines and greater resources. Bluebird Bio is involved with gene therapies but primarily for different diseases.

Historical Growth: Historical growth focused on progressing pipeline assets through preclinical and clinical development. Due to the delisting, historical data is irrelevant.

Future Projections: Future growth projections are not applicable as the company no longer exists.

Recent Initiatives: Recent initiatives included advancing gene therapy programs into clinical trials and securing funding for operations. These initiatives are no longer active.

Passage Bio was focused on AAV gene therapy to treat rare CNS disorders. However the company was delisted in 2023. It faced significant financial and regulatory challenges. The company ultimately failed to gain enough capital and clinical success to continue operations which is a common problem with biotech startups.

• AVRO
• SNY
• BLUE

Data Sources:

• SEC Filings
• Company Press Releases
• Industry Reports

Disclaimers:

The information provided is based on publicly available data and is for informational purposes only. It should not be considered financial advice. The information provided may not be entirely accurate given the company was delisted and data is from prior to delisting.