BRIEF-Biogen And Ionis Expand Strategic Collaboration To Develop Drug Candidates For A Broad Range Of Neurological Diseases

April 20 (Reuters) – Biogen Inc:

* BIOGEN AND IONIS EXPAND STRATEGIC COLLABORATION TO DEVELOP DRUG CANDIDATES FOR A BROAD RANGE OF NEUROLOGICAL DISEASES

* BIOGEN INC – BIOGEN WILL PAY IONIS $1 BILLION IN CASH, INCLUDING AN EQUITY INVESTMENT IN IONIS STOCK AND AN UPFRONT PAYMENT

* BIOGEN INC – WILL HAVE OPTION TO LICENSE THERAPIES ARISING OUT OF COLLABORATION AND WILL BE RESPONSIBLE FOR THEIR DEVELOPMENT AND COMMERCIALIZATION

* BIOGEN INC – $1 BILLION PAYMENT INCLUDES $625 MILLION TO BUY 11.5 MILLION SHARES OF IONIS COMMON STOCK AT $54.34 PER SHARE, $375 MILLION UPFRONT PAYMENT

* BIOGEN INC – UNDER TERMS OF COLLABORATION CO MAY PAY MILESTONE PAYMENTS, LICENSE FEES AND ROYALTIES ON NET SALES

* BIOGEN INC – IN COLLABORATION, IONIS WILL BE RESPONSIBLE FOR IDENTIFICATION OF ANTISENSE DRUG CANDIDATES BASED ON SELECTED TARGETS

* BIOGEN – IN COLLABORATION BIOGEN WILL BE RESPONSIBLE FOR AND PAY FOR NON-CLINICAL STUDIES, CLINICAL DEVELOPMENT, MANUFACTURING, AND COMMERCIALIZATION

* BIOGEN – CO, IONIS EXPANDED COLLABORATION THROUGH NEW 10-YEAR AGREEMENT TO DEVELOP NOVEL ANTISENSE DRUG CANDIDATES FOR RANGE OF NEUROLOGICAL DISEASES Source text for Eikon: Further company coverage:



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