Biogen exercises option on mosunetuzumab
US biotech Biogen (Nasdaq: BIIB) says it has exercised its option to participate in the development and commercialization of CD20xCD3 T-cell engaging bispecific antibody mosunetuzumab.
As a result, Biogen will pay a $30 million one-time option fee to Genentech, a subsidiary of Swiss pharma giant Roche (ROG: SIX), as part of the companies’ long-standing collaboration on antibodies targeting CD20.
Mizuho Securities analyst Salim Syed has suggested that Biogen's rights could translate to an additional $300 million of revenue based on forecasts of more than $1 billion in peak sales of mosunetuzumab. He noted that Biogen already has some presence in the oncology sector due to a previous collaboration with Genentech, so the latest move builds on that. Biogen’s shares closed up 1.5% at $229.37 following the announcement.
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