Biogen has entered a global licence and collaboration agreement with Alkermes for the development and commercialisation of ALKS 8700 to treat patients with multiple sclerosis (MS).
MS is an unpredictable and often disabling disease of the central nervous system (CNS), which interrupts the flow of information within the brain, as well as between the brain and the body.
ALKS 8700 is a new, oral monomethyl fumarate (MMF) small drug molecule currently in the Phase III development for the treatment of relapsing forms of MS.
Biogen CEO Michel Vounatsos said: “This partnership is further evidence of Biogen’s ongoing commitment to MS and builds upon our deep experience in neuroscience and particularly in MS.
“We aim to provide patients with a new oral therapy, which may bring differentiated benefits.”
Under the deal, Biogen will receive an exclusive, worldwide licence to commercialise ALKS 8700 and will pay Alkermes a mid-teens royalty on worldwide net sales of the product.
Alkermes CEO Richard Pops said: “This collaboration has the potential to provide important benefits to patients with MS and immediately increases the value of ALKS 8700 to Alkermes.”
Beginning 1 January next year, Biogen will be responsible for all development expenses related to the MS treatment.
Alkermes may be eligible to receive milestone payments for ALKS 8700 with a maximum aggregate value of $200m upon certain clinical and regulatory achievements.
The company will maintain responsibility for regulatory interactions with the US Food and Drug Administration (FDA) through the potential approval of the new drug application (NDA) for ALKS 8700 to treat MS.
Biogen shall be responsible for all commercialisation activities for the therapy.