MeiraGTx secured up to $400 million from Oberland Capital to fund late-stage gene therapy programs for rare eye and mouth conditions, positioning the company for potential commercialization timelines beginning in 2027–2028. The funding structure includes up to $375 million in non-dilutive capital via capped royalties and up to $25 million in equity. MeiraGTx said an initial $135 million has already been funded, including $125 million in low single-digit royalties and a $10 million equity stake. Additional payments are tied to clinical and regulatory milestones. A $50 million tranche is available on completion of the Phase II study (NCT05926765) for AAV2-hAQP1, which is being evaluated for radiation-induced late xerostomia (dry mouth) in head and neck cancer survivors. Another $50 million is linked to regulatory approval of bota-vec (botaretigene sparoparvovec), and a third $50 million is tied to approval of AAV2-hAQP1 in 2028. CEO Alexandria Forbes highlighted the rationale for the package given MeiraGTx’s “crowded” late-stage pipeline, while Oberland Capital partner Michael Bloom said the deal reflects confidence in the strength of the company’s late-stage data and commercial potential for both programs.