JiXing Pharma buys stroke asset from Biogen

Hot on the heels of an investment led by RTW Investments and included Germany’s Bayer (BAYN: DE), Shanghai-headquartered JiXing Pharmaceuticals has announced the acquisition of US biotech major Biogen’s (Nasdaq: BIIB) BIIB131 for global clinical development.

The terms of the acquisition include an undisclosed upfront payment as well as payments on meeting milestones and royalty payments on worldwide product sales.

BIIB131 is an investigational drug for acute ischemic stroke (AIS). Its proposed mechanism of action includes both thrombolytic and anti-inflammatory activities. By restoring critical blood flow following acute stroke, it may benefit more patients over current standard of care by extending the otherwise short treatment window.