Biogen and Skyhawk Therapeutics Announce Agreement to Develop Novel Small Molecule RNA Splicing Modifiers for Neurological Disease Targets
January 4, 2019
January 4, 2019 at 7:30 AM EST
- Biogen made a one-time upfront $74 million payment to Skyhawk for research services and an exclusive license to therapeutic candidates for multiple sclerosis, spinal muscular atrophy and other neurological diseases to be developed using Skyhawk’s SkySTAR™ platform
- Biogen to pay Skyhawk potential future milestone payments and royalties
CAMBRIDGE, Mass. and WALTHAM, Mass., Jan. 04, 2019 (GLOBE NEWSWIRE) — Biogen Inc (Nasdaq: BIIB) and Skyhawk Therapeutics, Inc. (Skyhawk) today announced a strategic collaboration in which the companies will leverage Skyhawk’s SkySTAR™ technology platform with the goal of discovering innovative small molecule treatments for patients with neurological diseases. Biogen will have the option to license therapies resulting from the collaboration and will be responsible for their development and potential commercialization.
The agreement grants Biogen an exclusive license to worldwide intellectual property rights on research-stage therapeutic candidates for the treatment of multiple sclerosis (MS), spinal muscular atrophy (SMA) and additional neurological disorders. As part of the agreement, Skyhawk received an upfront payment of $74 million from Biogen and may receive potential future milestone payments and royalties. A portion of the upfront payment will be allocated to future research services, with the remainder expensed in the first quarter of 2019 as research and development.
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