24 April 2018 - - Cambridge, Massachusetts-based neurological and autoimmune disease therapies specialist Biogen (NASDAQ: BIIB) and Carlsbad, California-based RNA-targeted therapeutics developer Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) have expanded their strategic collaboration through a new ten-year collaboration agreement to develop novel antisense drug candidates for a broad range of neurological diseases, the companies said.
This collaboration capitalizes on Biogen's expertise in neuroscience research and drug development and Ionis' leadership in RNA targeted therapies with the goal of developing a broad pipeline of investigational therapies.
Under the terms of the collaboration, Biogen will pay Ionis USD 1bn in cash, which will include USD 625m to purchase 11,501,153 shares of Ionis common stock at a price of USD 54.34 per share, at an approximately 25% cash premium, and a USD 375m upfront payment.
Biogen will have the option to license therapies arising out of this collaboration and will be responsible for their development and commercialisation. In addition, Biogen may pay milestone payments, license fees and royalties on net sales.
The companies plan to advance programs for a broad range of neurological diseases for which few treatment options exist, including dementia, neuromuscular diseases, movement disorders, ophthalmology, diseases of the inner ear, and neuropsychiatry.
In this collaboration, Ionis will be responsible for the identification of antisense drug candidates based on selected targets, while Biogen will be responsible for and pay for non-clinical studies, clinical development, manufacturing, and commercialization.
Biogen discovers, develops, and delivers therapies for people living with serious neurological and neurodegenerative diseases.
The company has a portfolio of medicines to treat multiple sclerosis and spinal muscular atrophy, and is at the forefront of neurology research for conditions including Alzheimer's disease, Parkinson's disease, and amyotrophic lateral sclerosis (ALS). Biogen also manufactures and commercializes biosimilars of advanced biologics.
Ionis is focused on developing drugs for patients who have the highest unmet medical needs, such as those patients with severe and rare diseases. Using its proprietary antisense technology, the company has created a large pipeline of first-in-class or best-in-class drugs, with over three dozen drugs in development.