- 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. 4, 2019 /PRNewswire/ -- 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.
"Skyhawk's platform offers a powerful approach to target
neurological conditions using selective RNA-modulating small
molecules, creating exciting possibilities for potential new
therapies," said Michael Ehlers, M.D., Ph.D., executive vice
president, research and development at Biogen. "This collaboration
exemplifies Biogen's commitment to joining forces with innovative
companies with the goal of improving the lives of patients living
with complex neurological diseases."
"Biogen is a leading neuro-focused biopharmaceutical company
with a compelling history of drug development across a range of
challenging neurological conditions," said Bill Haney,
co-founder and chief executive officer of Skyhawk. "Their strong
scientific culture has already produced a series of leading global
therapeutics. We look forward to working with their team with the
goal of potentially enhancing the treatment options we could bring
to the neuroscience community."
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 Skyhawk Therapeutics
Skyhawk Therapeutics is
committed to discovering, developing and commercializing therapies
that use its novel SkySTAR™ (Skyhawk Small molecule Therapeutics for
Alternative splicing of RNA) platform to build small molecule drugs
that bring breakthrough treatments to patients.
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, including statements relating to the
potential benefits and results that may be achieved through
Biogen's collaboration with Skyhawk; risks and uncertainties
associated with drug development and commercialization; the
potential of Biogen's commercial business and pipeline programs,
including potential research-stage therapeutic candidates for the
treatment of MS, SMA and additional neurological disorders. 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 Skyhawk can be achieved; risks of unexpected
costs or delays; uncertainty of success in the development and
potential commercialization of potential research-stage therapeutic
candidates for the treatment of MS, SMA 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 Skyhawk 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:
|
BIOGEN INVESTOR
CONTACT:
|
David
Caouette
|
Mike
Hencke
|
+1 617 679
4945
|
+1 781 464
4471
|
public.affairs@biogen.com
|
IR@biogen.com
|
|
|
SKYHAWK MEDIA
CONTACT:
|
|
Maura
McCarthy
|
|
maura@skyhawktx.com
|
|
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SOURCE Skyhawk Therapeutics