Under a research collaboration first established in 2021, Astellas Pharma is moving to license a Dyno Therapeutics gene therapy vehicle—an adeno-associated virus (AAV) capsid engineered for therapeutic delivery to skeletal muscle.
The terms of the companies’ previous agreement indicate that Dyno will receive a $15 million fee, along with potential milestone and royalty payments down the line, according to an April 8 release. Astellas will assume responsibility for preclinical, clinical and commercialization activities for gene therapy candidates that emerge from use of the licensed capsid.
AAV capsids are small, non-enveloped protein shells that surround a virus’s single-stranded DNA genome. They play a critical role in cell binding and internalization into host cells, and they serve as one of the industry’s primary delivery vehicles for gene therapies. Dyno CEO and cofounder Eric Kelsic, Ph.D., spoke with Fierce Biotech ahead of the announcement and noted the longstanding complexity of using gene therapies to treat muscle disorders.
“It’s very difficult to deliver therapeutic genes to all the muscle fibers across the body where they are needed,” he said. “In the past, that has required high doses of the vector, which drives up costs and introduces safety risks. That’s been a major challenge for everyone, including patients.”
Dyno’s AI platform has enabled the company to modify natural capsid shells and track the fate of the delivered genetic material, Kelsic said. “With an engineered capsid, we can reach more muscle cells at a lower dose, making the therapy more effective and potentially safer,” he explained.
The agreement marks the first Dyno capsid asset licensed by Astellas. In parallel to the Astellas work, the company has a separate AAV-focused collaboration with Roche worth potentially more than $1 billion. In January 2025, that partnership resulted in a $7 million upfront payment as part of a potential $220 million deal by Roche to option a novel capsid.
The Astellas agreement validates years of platform development, Kelsic said, expressing hope that the company’s AI-powered, partner-centric approach to genetic therapies will drive future breakthroughs. “AI helps us design the next generation of capsid proteins, incorporating changes likely to result in even better function,” he said.
Dyno has maintained long-term partnerships with both Astellas and Roche. Its broader tie-up with Roche began in 2020, targeting gene therapies for central nervous system and liver diseases. In 2021, Astellas committed $18 million upfront, with up to $1.6 billion in milestone and royalty payments, to work with Dyno to develop AAV vectors for gene therapy.