Biogen Exercises Option for Investigational Alzheimer’s Disease Drug
Biogen has exercised its option in an agreement with Neurimmune, a Zurich, Switzerland-based biopharmaceutical company, to further reduce previously negotiated royalty rates payable on potential future sales of aducanumab, Biogen’s Phase III investigational treatment for treating early Alzheimer’s disease.
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. The reduced royalty rates on potential commercial sales of aducanumab will be in the high single digits to low teens. Biogen licensed the worldwide rights to aducanumab from Neurimmune in 2007 under a collaborative development and license agreement.
In August 2016, aducanumab was accepted into the European Medicines Agency’s Prime program, a scheme to enhance support for the development of medicines that target an unmet medical need. In September 2016, the US Food and Drug Administration accepted aducanumab into its fast-track program, and in April 2017, aducanumab was accepted into the Japanese Ministry of Health, Labour and Welfare’s Sakigake Designation System.
In October 2017, Biogen and Eisai formed a global collaboration agreement to jointly develop and commercialize aducanumab.