MeiraGTx and Johnson & Johnson completed a buyback arrangement in which J&J handed back rights to the failed eye disease gene therapy bota-vec (botaretigene sparoparvovec) for $25 million upfront. The therapy previously failed a Phase 3 trial for X-linked retinitis pigmentosa (XLRP) in 2025. For MeiraGTx, the transaction brings full control over an asset that has already established regulatory and clinical context, though further development will likely require additional clinical strategy given the Phase 3 outcome. The deal also reflects continued restructuring in gene therapy portfolios after expensive late-stage failures, with companies rebalancing pipeline risk and capital allocation.