Biogen, Sage Therapeutics Reach Global Collaboration for Potential Depression and Movement Disorders Therapies
November 27 2020 - 08:22AM
Dow Jones News
By Maria Armental
Biogen Inc. and Sage Therapeutics Inc. agreed to jointly develop
and commercialize zuranolone (SAGE-217) for major depressive
disorder, postpartum depression and other psychiatric disorders and
SAGE-324 for essential tremor and other neurological disorders, the
companies said Friday.
Under the terms of the agreement, Sage Therapeutics would
receive $1.53 billion in cash, including an upfront payment of $875
million, in addition to up to some $1.6 billion in potential
milestone payments, profit sharing and royalties.
The two companies would develop and commercialize zuranolone and
SAGE-324 in the U.S. jointly and Biogen would receive exclusive
license to develop and commercialize zuranolone and SAGE-324
outside of the U.S., excluding rights to zuranolone in Japan,
Taiwan and South Korea, the companies said.
"With the recent and pending data outputs for zuranolone and
SAGE-324, the timing is right for a collaboration between two
like-minded companies committed to patients and driven by a passion
for neuroscience and brain health," Sage Therapeutics Chief
Operating Officer Mike Cloonan said in a statement.
The transaction is expected to close by the end of January.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
November 27, 2020 08:07 ET (13:07 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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