An option exercise to further reduce the royalty rates payable on potential future sales of aducanumab — a Phase III investigational treatment for early Alzheimer’s disease — has been announced by Biogen and Neurimmune.
Alzheimer's
Through this transaction, the profit potential of the therapy is increased for Biogen and provides near-term capital to Neurimmune.
As per the terms of the transaction, Biogen will make a one-time $50 million payment to Neurimmune in exchange for a 5% reduction in the original royalty rates on potential commercial sales of aducanumab, which follows the 15% reduction in royalty rates announced in October 2017.
“Biogen values our collaboration with Neurimmune, and this step is aligned with our amended agreement from 2017,” explained Michel Vounatsos, chief executive officer of Biogen. “As we progress our pipeline of candidates for Alzheimer’s disease including aducanumab, we hope that a potential treatment for this devastating and debilitating disease will be realised.”
“At Neurimmune, we are pleased with the continuous progress of our long-term successful collaboration with Biogen,” added Roger Nitsch, chief executive officer of Neurimmune. “This non-dilutive financing supports our growth strategy focused on bringing human-derived antibodies through clinical proof-of-concept in disease areas with high medical need.”
Biogen discovers, develops, and delivers worldwide innovative therapies for people living with serious neurological and neurodegenerative diseases.
Neurimmune is a biopharmaceutical company dedicated to the development of human-derived therapeutic antibodies for the treatment and prevention of human diseases with a high unmet medical need.