03:23 PM EDT, 03/13/2025 (MT Newswires) -- MeiraGTx ( MGTX ) shares rose Thursday after the company said it is forming a joint venture with Hologen as part of a strategic collaboration to develop AAV-GAD for Parkinson's disease.

The stock was up over 25% in recent trading after rising as much as 32.4% earlier. Trading volume topped 5.5 million shares versus a daily average of about 318,000.

The venture, Hologen Neuro AI, will be funded with a capital of up to $230 million from Hologen, a developer of generative AI foundation models of clinical data for drug development.

MeiraGTx ( MGTX ) said it will get $200 million in upfront cash at closing of the agreement.

Hologen will also fund a portion of MeiraGTx's ( MGTX ) manufacturing operations and will own a minority stake in its manufacturing subsidiary, the company said.

Price: 8.12, Change: +1.71, Percent Change: +26.68