{"product_id":"pasg-business-model-canvas","title":"(PASG) Passage Bio, Inc. Business Model Canvas Research","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-List-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePassage Bio Business Model Canvas: Strategy, Partnerships, Value\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eUnlock the full strategic blueprint behind Passage Bio, Inc.’s business model. This concise Business Model Canvas reveals how the company creates value, builds partnerships, and navigates the biotech landscape. Ideal for investors, analysts, and strategists who want deeper insight—download the full version to see every building block.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-wrapper\"\u003e\n\u003cdiv class=\"container_new_design pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"sub-highlight-wrapper_heading\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch2\u003ePartnerships\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTrustees of the University of Pennsylvania Gene Therapy Program collaboration\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePassage Bio’s collaboration with the Trustees of the University of Pennsylvania Gene Therapy Program is a core external partnership, giving it access to top-tier vector science, translational research, and gene therapy expertise. This academic link has been central to building Passage Bio’s AAV platform and advancing its rare-disease pipeline.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCatalent Maryland development services agreement\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. relies on its development services and clinical supply agreement with Catalent Maryland, Inc. to make and deliver clinical AAV material, a critical step for advancing its investigational gene therapies. This kind of outside manufacturing support helps Passage Bio keep trial supply moving without building full in-house production capacity.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Image.png\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRare-disease clinical investigators\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. relies on rare-disease clinical investigators, especially neurologists and geneticists, to run ultra-rare studies where patient pools are often measured in only dozens or low hundreds. These sites enroll patients and collect the safety and efficacy data that drive every clinical readout, making them core to Passage Bio, Inc.'s development path.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eAcademic medical centers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eAcademic medical centers are Passage Bio, Inc.'s core trial partners for rare CNS gene therapy, because they have the neurologists, imaging, genetic testing, and infusion teams these programs need. The U.S. NIH backs 58 Clinical and Translational Science Award hubs, which helps support biomarker work, natural-history studies, and long follow-up for small patient groups.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRare CNS trials need specialist care.\u003c\/li\u003e\n\u003cli\u003eAcademic centers enable biomarker studies.\u003c\/li\u003e\n\u003cli\u003eThey support long-term patient follow-up.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003ePatient and disease communities\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePatient and disease communities are key for Passage Bio, Inc. because rare-disease groups help find eligible patients, spread trial awareness, and shape protocol choices like endpoints and visit burden. That matters most in ultra-rare settings, where even a 2025 estimate still puts rare diseases at about 300 million people worldwide, so access and trust drive enrollment.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eFind patients faster\u003c\/li\u003e\n\u003cli\u003eRaise trial awareness\u003c\/li\u003e\n\u003cli\u003eShape endpoints\u003c\/li\u003e\n\u003cli\u003eSupport ultra-rare enrollment\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePassage Bio’s Rare-Disease Network: Science, Supply, and Trial Support\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. depends on the University of Pennsylvania Gene Therapy Program for vector science and translational research, Catalent Maryland, Inc. for AAV manufacturing, and specialist neurologists plus academic centers for ultra-rare trial execution. Patient groups also matter because rare diseases affect about 300 million people worldwide, while NIH supports 58 CTSA hubs that help with biomarker and follow-up work.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003ePartner\u003c\/th\u003e\n\u003cth\u003eRole\u003c\/th\u003e\n\u003cth\u003eKey data\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eUniversity of Pennsylvania\u003c\/td\u003e\n\u003ctd\u003eGene therapy science\u003c\/td\u003e\n\u003ctd\u003eCore AAV platform support\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCatalent Maryland, Inc.\u003c\/td\u003e\n\u003ctd\u003eClinical AAV supply\u003c\/td\u003e\n\u003ctd\u003eExternal manufacturing capacity\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNIH CTSA hubs\u003c\/td\u003e\n\u003ctd\u003eTrial support\u003c\/td\u003e\n\u003ctd\u003e58 hubs\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"product-includes\"\u003e\n\u003cdiv class=\"product-includes__container\"\u003e\n\u003ch2 id=\"product-includes-title\" class=\"product-includes__title\"\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-includes__grid\"\u003e\n\u003cdiv class=\"include-card\"\u003e\n\u003cdiv class=\"include-card__icon-wrap\"\u003e\n\u003cimg class=\"include-card__icon\" src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Detailed Word Document icon\"\u003e\n\u003c\/div\u003e\n\u003ch3 class=\"include-card__heading\"\u003e\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\u003c\/h3\u003e\n\u003cp class=\"include-card__text\"\u003eA concise, real-company business model canvas for Passage Bio, Inc. tailored to its gene therapy strategy.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"include-card\"\u003e\n\u003cdiv class=\"include-card__icon-wrap\"\u003e\n\u003cimg class=\"include-card__icon\" src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Customizable Excel Spreadsheet icon\"\u003e\n\u003c\/div\u003e\n\u003ch3 class=\"include-card__heading\"\u003e\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\u003c\/h3\u003e\n\u003cp class=\"include-card__text\"\u003eQuickly maps Passage Bio’s strategy into a clear, editable snapshot for faster review and decisions.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"include-card\"\u003e\n\u003cdiv class=\"include-card__icon-wrap\"\u003e\n\u003cimg class=\"include-card__icon\" src=\"\/cdn\/shop\/files\/GENERAL-Reference-Icon.svg\" alt=\"References icon\"\u003e\n\u003c\/div\u003e\n\u003ch3 class=\"include-card__heading\"\u003e\u003cstrong\u003eReference Sources\u003c\/strong\u003e\u003c\/h3\u003e\n\u003cp class=\"include-card__text\"\u003eProvides a credible source trail for Passage Bio, Inc., helping decision-makers verify claims fast and trust the analysis.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"pr-shrt-dscr-wrapper\"\u003e\n\u003cdiv class=\"container_new_design pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"sub-highlight-wrapper_heading\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch2\u003eActivities\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAdvance 6 pipeline programs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAs of FY2025, Passage Bio’s key activity is advancing 6 CNS genetic therapy programs: PBGM01, PBFT02, PBKR03, PBML04, PBAL05, and PBCM06. These target GM1 gangliosidosis, FTD-GRN, Krabbe disease, MLD, ALS, and CMT2A, so the company’s work is centered on a focused rare-neurology pipeline. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDesign AAV gene therapies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. designs AAV gene therapies by engineering viral vectors that deliver functional genes to the central nervous system. Its core platform work centers on AAVhu68 for PBGM01 and PBKR03, and AAV1 for PBFT02, making vector design the main technical activity behind its pipeline.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Image.png\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRun preclinical and clinical development\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePassage Bio moves gene therapy assets from discovery into human studies through pharmacology, toxicology, dose selection, and clinical execution. In 2025, that work still centers on IND-enabling data and Phase 1\/2 readouts, because regulators need clean safety and dosing evidence before any broader progression.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eManage CMC and clinical supply\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eIn FY2025, Passage Bio, Inc. relied on Catalent Maryland for CMC development and supply while it produced investigational vector lots and kept clinical inventory moving. For gene therapy, CMC quality is make-or-break: each lot must clear identity, purity, and sterility checks before patients can receive it.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eProduce investigational vector lots\u003c\/li\u003e\n\u003cli\u003eMaintain clinical supply continuity\u003c\/li\u003e\n\u003cli\u003eUse Catalent Maryland support\u003c\/li\u003e\n\u003cli\u003eProtect CMC quality and release\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eMaintain collaborations and regulatory interactions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePassage Bio keeps its University of Pennsylvania collaboration and external trial partners aligned to move orphan-disease programs through clinic and scale-up. It also works with regulators on safety, manufacturing, and trial design, which is critical for rare-disease studies where patient counts are small and each protocol change can affect speed and risk.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eUniversity of Pennsylvania collaboration supports pipeline work\u003c\/li\u003e\n\u003cli\u003eExternal trial partners help run studies\u003c\/li\u003e\n\u003cli\u003eRegulatory talks cover safety, manufacturing, design\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePassage Bio Advances Six CNS Gene Therapy Programs in FY2025\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eAs of FY2025, Passage Bio’s key activities were advancing six CNS gene therapy programs, running IND-enabling work and Phase 1\/2 studies, and producing AAV vector lots for clinical supply. It also managed CMC work with Catalent Maryland and kept regulatory, toxicology, and trial partners aligned for rare-neurology development.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eFY2025 focus\u003c\/th\u003e\n\u003cth\u003eData\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003ePrograms\u003c\/td\u003e\n\u003ctd\u003e6\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eVector platforms\u003c\/td\u003e\n\u003ctd\u003eAAVhu68, AAV1\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eClinical stage\u003c\/td\u003e\n\u003ctd\u003ePhase 1\/2\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCMC partner\u003c\/td\u003e\n\u003ctd\u003eCatalent Maryland\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eWhat You See Is What You Get\u003c\/span\u003e\u003cbr\u003e Business Model Canvas\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the actual Passage Bio, Inc. Business Model Canvas you’ll receive after purchase. It is not a sample or placeholder—what you see here is a real section of the final document. Once you buy, you’ll get the same file in full, with the same layout and content.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview-Image.png\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-wrapper\"\u003e\n\u003cdiv class=\"container_new_design pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"sub-highlight-wrapper_heading\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch2\u003eResources\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eProprietary AAVhu68 capsid\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePassage Bio’s proprietary AAVhu68 capsid is the core CNS delivery engine behind PBGM01 and PBKR03. It is a key platform asset and a clear pipeline differentiator, since the same vector supports both lead programs and underpins the company’s gene delivery strategy.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAAV1 capsid program know-how\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePBFT02 uses an AAV1 capsid to deliver GRN, showing Passage Bio, Inc. knows how to pick vectors for brain targeting. That know-how broadens the platform beyond one capsid, which can support faster follow-on programs and lower single-vector risk.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Image.png\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePipeline of 6 investigational assets\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. has six investigational programs in rare neurologic diseases, and that pipeline is the core of its key resources. Each asset adds clinical and regulatory optionality, while the company’s 2024 annual report showed $25.8 million in cash and equivalents at year-end, underscoring how tightly value depends on pipeline progress.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eUniversity of Pennsylvania collaboration\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePassage Bio, Inc. relies on the University of Pennsylvania Gene Therapy Program as a core external resource for vector discovery and gene therapy know-how, giving it translational depth that is hard to build in-house. This collaboration sits behind Passage Bio, Inc.'s AAV-based platform and remains one of its most important scientific partnerships.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eDeepens vector discovery and translational development\u003c\/li\u003e\n\u003cli\u003eSupports AAV gene therapy platform work\u003c\/li\u003e\n\u003cli\u003eAnchors a key external R\u0026amp;D resource\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003ePhiladelphia headquarters and team\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePassage Bio, Inc. was founded in 2017 and is based in Philadelphia, Pennsylvania, putting it inside a strong gene therapy hub with nearby talent, labs, and research links. Its Philadelphia headquarters, team, and facilities are core resources for running clinical and research work; by 2025\/2026, that local operating base remains one of its main execution assets.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eFounded in 2017\u003c\/li\u003e\n\u003cli\u003eHeadquarters: Philadelphia, Pennsylvania\u003c\/li\u003e\n\u003cli\u003eAccess to Pennsylvania gene therapy ecosystem\u003c\/li\u003e\n\u003cli\u003eTeam and facilities drive operations\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePassage Bio’s AAV Edge Powers Its Rare Disease Pipeline\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc.’s key resources are its AAV platform, led by the proprietary AAVhu68 capsid and the AAV1-based PBFT02 program, plus six rare neurologic disease assets that keep pipeline value tied to CNS delivery know-how. Its University of Pennsylvania Gene Therapy Program link and Philadelphia base add scarce R\u0026amp;D talent, while year-end cash and equivalents were $25.8 million.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eKey resource\u003c\/th\u003e\n\u003cth\u003eWhy it matters\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAAVhu68\u003c\/td\u003e\n\u003ctd\u003eCNS delivery platform\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePBFT02 AAV1 know-how\u003c\/td\u003e\n\u003ctd\u003eBroadens vector use\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSix programs\u003c\/td\u003e\n\u003ctd\u003ePipeline optionality\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\u003cdiv class=\"pr-shrt-dscr-wrapper\"\u003e\n\u003cdiv class=\"container_new_design pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"sub-highlight-wrapper_heading\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch2\u003eValue Propositions\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGene therapies for CNS rare diseases\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePassage Bio targets severe CNS rare diseases, focusing on underserved neurologic and neurodegenerative conditions where fewer than 10% of rare diseases have approved treatments. Its gene therapy pipeline aims at markets that still leave about 300 million people worldwide with limited options.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRoot-cause gene replacement\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. centers its value on root-cause gene replacement: PBGM01 for GLB1, PBFT02 for GRN, and PBKR03 for GALC. By delivering functional genes to replace the faulty one, the goal is to change disease biology at the source, not just ease symptoms.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Image.png\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBrain and peripheral tissue delivery\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePBGM01 is built to reach both the brain and peripheral tissues, and PBKR03 is aimed at the brain plus surrounding tissues, which matters because systemic lysosomal diseases often need broad biodistribution, not just CNS exposure. In 2025, Passage Bio kept this delivery focus central as it targets disorders where one tissue alone is not enough.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eUltra-rare pediatric and neurodegenerative focus\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePassage Bio, Inc. targets ultra-rare childhood diseases and later-onset neurodegeneration: infantile GM1 gangliosidosis and infantile Krabbe disease affect roughly 1 in 100,000 births each, while ALS and FTD-GRN address large unmet needs with no disease-modifying cure. This mix spans pediatrics to adults and sharpens its orphan-drug edge.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRare-disease focus supports high unmet need\u003c\/li\u003e\n\u003cli\u003ePrograms span infant to adult patients\u003c\/li\u003e\n\u003cli\u003eOrphan scope can speed adoption\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eAAV platform across multiple programs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePassage Bio, Inc. uses one AAV platform across several programs, so it can reuse capsid design, CMC work, and clinical know-how. That kind of platform breadth can lower repeat work and support faster pipeline moves, which is key for a company that still reports no product revenue in its latest annual filing.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eReuses one AAV science base\u003c\/li\u003e\n\u003cli\u003eShares manufacturing and process know-how\u003c\/li\u003e\n\u003cli\u003eSpeeds follow-on program work\u003c\/li\u003e\n\u003cli\u003eSupports pipeline efficiency and cost discipline\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePassage Bio Targets Ultra-Rare CNS Diseases With Root-Cause Gene Therapy\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePassage Bio’s value proposition is a root-cause AAV gene therapy platform for ultra-rare CNS diseases with no disease-modifying cures, led by PBGM01, PBFT02, and PBKR03. Its rare-disease focus targets markets where fewer than 10% of rare diseases have approved treatments and where GM1 gangliosidosis and Krabbe disease each affect about 1 in 100,000 births.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eValue driver\u003c\/th\u003e\n\u003cth\u003eKey data\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003ePipeline focus\u003c\/td\u003e\n\u003ctd\u003ePBGM01, PBFT02, PBKR03\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eUnmet need\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;10% of rare diseases approved\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCore markets\u003c\/td\u003e\n\u003ctd\u003e~300M people with limited options\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-wrapper\"\u003e\n\u003cdiv class=\"container_new_design pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"sub-highlight-wrapper_heading\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch2\u003eCustomer Relationships\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eClinical trial participation\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. depends on informed consent and protocol-driven enrollment for investigational studies, so the patient is the direct customer relationship in the clinical stage. Safety monitoring and follow-up are built into this link; in 2025, the company still had no product revenue and remained focused on advancing its gene therapy pipeline through clinical development.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePhysician and investigator engagement\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eSpecialist doctors and trial investigators are the main channel for finding eligible patients and delivering Passage Bio, Inc. therapies, so the company has to keep tight scientific contact with them. Their site-level feedback can change study operations and even endpoints, which matters in rare-disease trials where patient pools are small and each protocol choice has outsized impact.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Image.png\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLong-term patient monitoring\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. must keep patients in long follow-up because gene therapy safety tracking can extend up to 15 years after dosing, per FDA guidance. That matters most in pediatric and CNS programs, where delayed effects and durable response data shape re-dosing, safety, and value. This long horizon also supports trust with families and trial sites.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eDisease-community outreach\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePassage Bio, Inc. depends on disease-community outreach because rare diseases affect about 300 million people worldwide across more than 7,000 conditions, so small patient groups need clear education on trial goals, site access, and family support. Strong communication with advocacy groups helps build awareness, guide navigation, and keep enrollment moving when each eligible patient matters.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRare-disease groups boost trial awareness\u003c\/li\u003e\n\u003cli\u003eFamily education helps enrollment\u003c\/li\u003e\n\u003cli\u003eSmall pools make outreach critical\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eScientific exchange with centers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePassage Bio’s ties with academic centers and clinical sites are highly specialized: teams meet often to review patient data, discuss cases, and update trial protocols. In 2024, Passage Bio reported $15.8 million in cash and equivalents, underscoring how these expert-led relationships support a lean, research-heavy model rather than a broad sales network.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e\u003cp\u003eFrequent data review with centers\u003c\/p\u003e\u003c\/li\u003e\n\u003cli\u003e\u003cp\u003eCase-by-case clinical discussion\u003c\/p\u003e\u003c\/li\u003e\n\u003cli\u003e\u003cp\u003eProtocol updates drive execution\u003c\/p\u003e\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePassage Bio’s rare-disease trust model hinges on long-term patient follow-up\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. keeps customer ties centered on rare-disease patients, family caregivers, and specialist investigators, with informed consent, safety follow-up, and protocol changes shaping the relationship. Because gene therapy follow-up can run 15 years under FDA guidance, trust and long-term contact matter more than volume.\u003c\/p\u003e\n\u003cp\u003eIn 2025, Passage Bio, Inc. still had no product revenue, so these relationships mainly support trial enrollment and data quality, not repeat sales. Rare-disease outreach and academic site feedback are the key links that keep studies moving.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003e2025 product revenue\u003c\/td\u003e\n\u003ctd\u003e$0\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFDA follow-up horizon\u003c\/td\u003e\n\u003ctd\u003eUp to 15 years\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\u003cdiv class=\"pr-shrt-dscr-wrapper\"\u003e\n\u003cdiv class=\"container_new_design pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"sub-highlight-wrapper_heading\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch2\u003eChannels\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAcademic clinical trial sites\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAcademic clinical trial sites are Passage Bio, Inc.'s main patient channel, because its investigational programs depend on research hospitals for screening, dosing, and follow-up. In 2025, Passage Bio still had no product revenue, so site quality directly drives enrollment speed and data quality.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSpecialist neurologists and geneticists\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. depends on specialist neurologists and geneticists because ultra-rare disorders have tiny pools of eligible patients: GM1 gangliosidosis is estimated at about 1 in 100,000 to 200,000 births, and these physicians are the main gatekeepers for diagnosis, referral, and trial enrollment. They also help coordinate confirmatory testing and care, which is key when patient access is so limited.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Image.png\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eUniversity research network\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. uses its collaboration with the University of Pennsylvania as a scientific and clinical network that helps move gene therapy programs from lab work into patient studies, while also tapping specialist know-how across neurology, gene delivery, and translational research.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eCompany medical communications\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePassage Bio uses company medical communications to push trial updates and program status to clinicians and investors through presentations, papers, and investor decks. In its latest filings, the Company reported no product revenue, so these updates are a key channel for signaling clinical progress and keeping stakeholders aligned.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e\u003cp\u003eTrial updates\u003c\/p\u003e\u003c\/li\u003e\n\u003cli\u003e\u003cp\u003ePublications and presentations\u003c\/p\u003e\u003c\/li\u003e\n\u003cli\u003e\u003cp\u003eInvestor materials\u003c\/p\u003e\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eRare-disease community touchpoints\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePatient organizations are key touchpoints in rare disease, where 300 million people worldwide live with 7,000+ conditions and about 95% still lack an approved treatment. For Passage Bio, Inc., these groups help families find trials, learn diagnostic paths, and connect fast when patient counts are tiny.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eBest reach point for ultra-rare patients\u003c\/li\u003e\n\u003cli\u003eDrives trial awareness and diagnosis\u003c\/li\u003e\n\u003cli\u003eCritical when each cohort is very small\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePassage Bio’s ultra-rare reach runs through specialists and academic sites\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. reaches ultra-rare patients mainly through academic trial sites, specialist neurologists, geneticists, and patient groups. With no product revenue in 2025, these channels are the core path to screening, referral, enrollment, and trial retention. A 2025 10-K showed the Company remained a clinical-stage gene therapy developer.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eChannel\u003c\/th\u003e\n\u003cth\u003eRole\u003c\/th\u003e\n\u003cth\u003e2025 data\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAcademic sites\u003c\/td\u003e\n\u003ctd\u003eEnroll and follow patients\u003c\/td\u003e\n\u003ctd\u003eNo product revenue\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSpecialists\u003c\/td\u003e\n\u003ctd\u003eDiagnose and refer\u003c\/td\u003e\n\u003ctd\u003eGM1 is 1 in 100,000-200,000 births\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-wrapper\"\u003e\n\u003cdiv class=\"container_new_design pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"sub-highlight-wrapper_heading\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch2\u003eCustomer Segments\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInfantile GM1 gangliosidosis\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePBGM01 targets infantile GM1 gangliosidosis, a very rare lysosomal storage disorder with published incidence estimates of about 1 in 100,000 to 1 in 300,000 live births. The core customer segment is families facing early, severe neurodegeneration and the treating specialists who diagnose and manage this mostly pediatric disease.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFTD-GRN\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePBFT02 targets adults with frontotemporal dementia linked to GRN mutations, a rare neurodegenerative segment that affects roughly 10,000 to 15,000 people in the United States. Neurology specialists, especially memory-disorder and movement-disorder clinics, are the key decision-makers and care hubs for this patient base.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Image.png\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInfantile Krabbe disease\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePBKR03 targets infantile Krabbe disease, a rare early-onset leukodystrophy that often appears in the first 6 months of life and rapidly damages the CNS. The main users are pediatric neurologists and metabolic specialists; with U.S. newborn screening now covering more than 30 states for Krabbe disease, referral and diagnosis are concentrated in a small, specialist-led patient pool.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eMetachromatic leukodystrophy\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePBML04 is being developed for metachromatic leukodystrophy, a severe inherited white-matter disease that affects about 1 in 40,000 to 1 in 160,000 births. The customer segment is mainly pediatric patients and families, where diagnosis and early referral matter because treatment works best before major neurologic decline.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRare, high-unmet-need genetic disorder\u003c\/li\u003e\n\u003cli\u003eEarly diagnosis drives treatment access\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eALS and CMT2A\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePBAL05 and PBCM06 expand Passage Bio, Inc. into ALS and Charcot-Marie-Tooth Type 2A, so the customer base now spans adult neurology and hereditary neuropathy as well as pediatric care. ALS affects about 5.0 people per 100,000 globally, while CMT impacts roughly 1 in 2,500 people, supporting a rare-disease market with high unmet need.\u003c\/p\u003e\n\u003cp\u003ePBAL05\/PBCM06: adult ALS and inherited neuropathy. One pipeline, two age groups.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eAdult neurology demand rises with ALS\u003c\/li\u003e\n\u003cli\u003eHereditary neuropathy need is long-term\u003c\/li\u003e\n\u003cli\u003ePortfolio now spans pediatric and adult patients\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePassage Bio Targets High-Need Ultra-Rare Neurology Markets\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. serves ultra-rare pediatric and adult neurology segments: families and specialist clinics for GM1, GRN-FTD, Krabbe, and MLD, plus adult neurology and hereditary neuropathy for ALS and CMT2A. The pool is small but high-need, with diagnosis and referral concentrated in academic centers and newborn-screening networks.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003eKey buyer\u003c\/th\u003e\n\u003cth\u003eNeed\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRare genetics\u003c\/td\u003e\n\u003ctd\u003eSpecialists\u003c\/td\u003e\n\u003ctd\u003eEarly treatment\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAdult neurology\u003c\/td\u003e\n\u003ctd\u003eMemory clinics\u003c\/td\u003e\n\u003ctd\u003eDisease slowing\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\u003cdiv class=\"pr-shrt-dscr-wrapper\"\u003e\n\u003cdiv class=\"container_new_design pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"sub-highlight-wrapper_heading\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch2\u003eCost Structure\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eResearch and discovery spend\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eResearch and discovery spend is a core cost for Passage Bio, Inc. because it must keep funding vector design, assay development, and translational research to build and optimize new gene therapy assets. In a platform gene therapy model, this spend supports the pipeline before revenue, and in fiscal 2025 the company still carried R\u0026amp;D as a central operating cost tied to that asset-generation work.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eClinical trial expenses\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eClinical trial expenses are a major cost driver for Passage Bio, Inc.: human studies need site fees, monitoring, data management, and patient support, and rare-disease programs often recruit from very small patient pools. That makes each added year of follow-up more expensive, with public rare-disease studies often running on cohorts of just dozens of patients.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Image.png\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eManufacturing and CMC\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eManufacturing and CMC are a major cost driver for Passage Bio, Inc. because gene therapy needs vector production, analytical testing, batch release, cold-chain storage, and strict quality controls. Catalent support lowers the internal burden, but it still leaves Passage Bio, Inc. exposed to high per-batch CMC spend and scale-up risk.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003ePersonnel and G\u0026amp;A\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePassage Bio's personnel and G\u0026amp;A base is fixed-cost heavy: it needs scientific, clinical, regulatory, and corporate staff, while legal, finance, audit, and listing compliance keep public-company overhead high. That means headcount and back-office support stay expensive even when research spending moves up or down.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eScientific, clinical, regulatory staff\u003c\/li\u003e\n\u003cli\u003eLegal, finance, public-company overhead\u003c\/li\u003e\n\u003cli\u003eHeadcount is fixed operating cost\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eIP and collaboration costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePassage Bio, Inc. has no product revenue and its IP costs sit in legal, patent, and contract spending tied to keeping vector and program rights protected. Collaboration duties with the University of Pennsylvania and vendors also add fixed fees, so these costs stay meaningful even while revenue was $0.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eProtect patents and licenses.\u003c\/li\u003e\n\u003cli\u003ePay Penn and vendor obligations.\u003c\/li\u003e\n\u003cli\u003eDefend vector and program IP.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePassage Bio’s 2025 Costs Are All R\u0026amp;D, with Zero Revenue to Offset Them\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. is still a pre-revenue gene therapy company, so its cost structure is dominated by R\u0026amp;D, clinical work, CMC, and public-company overhead in fiscal 2025. In 2025, revenue was $0, so every dollar of spending went to pipeline and platform work.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eFY2025 cost driver\u003c\/th\u003e\n\u003cth\u003eSignal\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRevenue\u003c\/td\u003e\n\u003ctd\u003e$0\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMain spend\u003c\/td\u003e\n\u003ctd\u003eR\u0026amp;D, trials, CMC\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOverhead\u003c\/td\u003e\n\u003ctd\u003eFixed SG\u0026amp;A\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003eThat means Passage Bio, Inc. needs tight cash control because each program adds lab, patient, and manufacturing spend before any product sales arrive.\u003c\/p\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\u003cdiv class=\"pr-shrt-dscr-wrapper\"\u003e\n\u003cdiv class=\"container_new_design pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"sub-highlight-wrapper_heading\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch2\u003eRevenue Streams\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNo approved product sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. is still a development-stage biopharmaceutical company, so it has no approved CNS gene therapy and no product sales revenue base. In its most recent reported fiscal year, product revenue was $0, while the business continued to fund R\u0026amp;D and clinical work from cash on hand and financing.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFuture gene therapy sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eIf Passage Bio, Inc. wins approvals, future gene therapy sales could become the core long-term revenue stream, with rare-disease one-time therapies often priced in the $2 million to $3.5 million range, like Zolgensma at about $2.1 million and Hemgenix at $3.5 million. Today, Passage Bio, Inc. still has no commercial product revenue, so this line is tied to regulatory success and launch execution.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Image.png\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCollaboration payments\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCollaboration payments can bring upfront cash, milestone fees, and service income from R\u0026amp;D deals, which is standard in gene therapy. Passage Bio’s Penn link and its manufacturing network fit this model, but its latest SEC filings show no collaboration revenue reported, so this stream is still more strategic than material.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eLicensing and milestone income\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePassage Bio, Inc. could monetize platform or program rights through licenses, with milestone payments linked to development, regulatory, or launch events. In fiscal 2025, the company reported no product revenue, so licensing and royalties would matter only if it signs a partner deal.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eLicenses can bring upfront cash.\u003c\/li\u003e\n\u003cli\u003eMilestones depend on key events.\u003c\/li\u003e\n\u003cli\u003eRoyalties need partnered assets.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003ch3\u003eNon-dilutive funding\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePassage Bio, Inc. has no product revenue in fiscal 2025, so non-dilutive funding matters for rare-disease programs. Grants and other external research money can extend preclinical and clinical work without issuing new shares or adding debt.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eBest fit when revenue is $0\u003c\/li\u003e\n\u003cli\u003eSupports preclinical and clinical work\u003c\/li\u003e\n\u003cli\u003eLimits dilution from equity raises\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-box-border\"\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Checkmark-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePassage Bio Remains Pre-Commercial, Funding Still Drives Cash\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePassage Bio, Inc. had no product sales in fiscal 2025, so revenue streams remain pre-commercial and depend on future CNS gene therapy approvals. Near term, cash will still come mainly from equity financing and any partnership cash, not from sales.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eStream\u003c\/th\u003e\n\u003cth\u003eFiscal 2025\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eProduct revenue\u003c\/td\u003e\n\u003ctd\u003e$0\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCollaboration revenue\u003c\/td\u003e\n\u003ctd\u003e$0 reported\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eExternal funding\u003c\/td\u003e\n\u003ctd\u003eMain cash source\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"DCF Analyst","offers":[{"title":"Default Title","offer_id":57234833965321,"sku":"pasg-business-model-canvas","price":5.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0942\/8045\/0313\/files\/pasg-business-model.webp?v=1785728150","url":"https:\/\/dcfanalyst.com\/products\/pasg-business-model-canvas","provider":"DCF Analyst","version":"1.0","type":"link"}