Biogen Idec in $427.5 million deal for three Neurimmune neurodegenerative disease programs
USA-based Biogen Idec (Nasdaq: BIIB) says it has acquired a subsidiary of independent Swiss biotech firm Neurimmune, which includes the world-wide rights to three preclinical immunotherapy programs. The three programs are focused on the discovery and development of novel human antibodies that address three central nervous system (CNS) targets: alpha-synuclein, tau and TDP-43.
These targets are believed to be relevant for the treatment and prevention of a wide variety of neurodegenerative diseases, including Parkinson's and Alzheimer's disease and amyotrophic lateral sclerosis (ALS). Biogen Idec will make an initial payment of $32.5 million and up to $395 million in contingent payments, making the deal worth a potential $427.5 million to the Swiss company.
Builds on previous collaboration
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