BIIB - Biogen inks licensing deal for Parkinson's disease candidate

Biogen (NASDAQ:BIIB) and Canada-based privately held pharmaceutical company Alectos Therapeutics have reached a license and collaboration agreement to develop and commercialize an experimental therapy called AL01811 for Parkinson’s disease (PD), according to a press release on Monday. Per the terms, both companies will partner in the pre-clinical development of AL01811 before Biogen takes over the full responsibility for clinical studies, regulatory, manufacturing, and commercial activities. While Biogen (BIIB) will secure an exclusive global license to AL01811 and unnamed backup molecules, Alectos will be eligible for $15M as an upfront payment. Alectos is also entitled to receive tiered royalties in the high-single-digits to mid-teens, in addition to milestone-based development payments and commercial payments at $77.5M and $630M, respectively. Read: Early this year, Biogen (BIIB) amended its collaboration agreement with Japanese pharma Eisai (OTCPK:ESALY) (OTCPK:ESALF) to claim sole global commercialization rights for Alzheimer's therapy Aduhelm.

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Biogen inks licensing deal for Parkinson’s disease candidate