Biogen and C4 Therapeutics Enter into Strategic Collaboration to Discover and Develop Potential New Treatments for Neurologic...
January 04 2019 - 7:30AM
Biogen and C4 Therapeutics Enter into Strategic Collaboration to
Discover and Develop Potential New Treatments for Neurological
Conditions
Biogen Inc (Nasdaq: BIIB) and C4 Therapeutics (C4T) announced
today that they have entered into a strategic collaboration to
investigate the use of C4T’s novel protein degradation platform to
discover and develop potential new treatments for neurological
conditions, such as Alzheimer’s disease and Parkinson’s disease.
Under the agreement, C4T will provide expertise and research
services in targeted protein degradation and Biogen will provide
neuroscience expertise and drug development capabilities. Biogen
and C4T will research potential targets together and Biogen will
advance candidates for development and potential commercialization.
Biogen will pay C4T up to a total of $415 million in upfront and
potential future milestone payments plus potential future
royalties. Biogen expects to record a research and development
expense of $15 million to $25 million in the fourth quarter of 2018
related to this transaction.
“C4T’s platform enables the discovery of novel molecules that
take advantage of endogenous protein degradation mechanisms to
target disease-causing proteins,” said Michael Ehlers, M.D., Ph.D.,
executive vice president, research and development at Biogen. “This
new collaboration with C4T complements our broader research
strategy to develop potential therapies for neurological conditions
across multiple modalities. We look forward to discovering new
potential therapeutic options for diseases that currently have
limited-to-no treatment options available.”
“We are excited to work with our Biogen colleagues to take on
the challenge of researching new potential therapies for
Alzheimer’s disease, Parkinson’s disease and other devastating
neurological diseases,” said Andy Phillips, president and chief
executive officer of C4T. “Our approach of using the cell’s innate
mechanisms to eliminate specific, disease-causing proteins is a
promising new way to tackle the challenges of central nervous
system diseases. Together with Biogen, a global leader in
neuroscience, we are eager to embark on this important effort.”
About Biogen At Biogen, our mission is clear:
we are pioneers in neuroscience. Biogen discovers, develops and
delivers worldwide innovative therapies for people living with
serious neurological and neurodegenerative diseases. One of the
world’s first global biotechnology companies, Biogen was founded in
1978 by Charles Weissmann, Heinz Schaller, Kenneth Murray and Nobel
Prize winners Walter Gilbert and Phillip Sharp, and today has the
leading portfolio of medicines to treat multiple sclerosis, has
introduced the first and only approved treatment for spinal
muscular atrophy and is focused on advancing neuroscience research
programs in Alzheimer’s disease and dementia, multiple sclerosis
and neuroimmunology, movement disorders, neuromuscular disorders,
pain, ophthalmology, neuropsychiatry and acute neurology. Biogen
also manufactures and commercializes biosimilars of advanced
biologics.
We routinely post information that may be important to investors
on our website at www.biogen.com. To learn more, please
visit www.biogen.com and follow us on social media
– Twitter, LinkedIn, Facebook, YouTube.
About C4 TherapeuticsC4 Therapeutics (C4T) is
pioneering a new class of small-molecule drugs that selectively
target disease-relevant proteins for degradation using the innate
machinery of the cell. This targeted protein degradation approach
has the potential to treat a range of diseases and offers
advantages over traditional drugs, such as potential to minimize
drug resistance, de-risked starting points, high potency and
specificity. To learn more about C4 Therapeutics, visit
www.C4Therapeutics.com.
Biogen Safe Harbor Statement This news release
contains forward-looking statements, including statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, relating to the potential benefits
and results that may be achieved through Biogen’s collaboration
with C4 Therapeutics; risks and uncertainties associated with drug
development and commercialization; the potential of Biogen’s
commercial business and pipeline programs, including potential
therapeutic candidates for the treatment of neurological
conditions, including Alzheimer’s disease, Parkinson’s disease and
additional neurological disorders; and our future financial and
operating results. These forward-looking statements may be
accompanied by words such as “aim,” “anticipate,” “believe,”
“could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,”
“potential,” “possible,” “will” and other words and terms of
similar meaning. Drug development and commercialization involve a
high degree of risk, and only a small number of research and
development programs result in commercialization of a product.
Results in early stage clinical trials may not be indicative of
full results or results from later stage or larger scale clinical
trials and do not ensure regulatory approval. You should not place
undue reliance on these statements or the scientific data
presented.
These statements involve risks and uncertainties that could
cause actual results to differ materially from those reflected in
such statements, including without limitation, uncertainty as to
whether the anticipated benefits and potential of Biogen’s
collaboration with C4 Therapeutics can be achieved; risks of
unexpected costs or delays; uncertainty of success in the
development and potential commercialization of potential
therapeutic candidates for the treatment of neurological
conditions, including Alzheimer’s disease, Parkinson’s disease and
additional neurological disorders, which may be impacted by, among
other things, the occurrence of adverse safety events and/or
unexpected concerns that may arise from additional data or
analysis; regulatory authorities may require additional information
or further studies, or may fail to approve or may delay approval of
these drug candidates; Biogen and C4 Therapeutics may encounter
other unexpected hurdles which may be impacted by, among other
things, the occurrence of adverse safety events, failure to obtain
regulatory approvals in certain jurisdictions, or failure to
protect intellectual property and other proprietary rights; product
liability claims; or third party collaboration risks. The foregoing
sets forth many, but not all, of the factors that could cause
actual results to differ from Biogen’s expectations in any
forward-looking statement. Investors should consider this
cautionary statement, as well as the risk factors identified in
Biogen’s most recent annual or quarterly report and in other
reports Biogen has filed with the Securities and Exchange
Commission. These statements are based on Biogen’s current beliefs
and expectations and speak only as of the date of this news
release. Biogen does not undertake any obligation to publicly
update any forward-looking statements, whether as a result of new
information, future developments or otherwise.
BIOGEN MEDIA CONTACT:
David Caouette +1 617 679
4945public.affairs@biogen.com |
BIOGEN INVESTOR CONTACT:
Mike Hencke+1 781 464 2442IR@biogen.com |
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C4 THERAPEUTICS MEDIA
CONTACTS:Kari Watson+1 781 235 3060kwatson@macbiocom.com Kara
Mazey+1 781 235 3060kmazey@macbiocom.com |
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