Skip to main content

Market Overview

Biogen Buys Acute Ischemic Stroke Candidate For One-Time Payment Of $18M

Share:
Biogen Buys Acute Ischemic Stroke Candidate For One-Time Payment Of $18M
  • Biogen Inc (NASDAQ: BIIBhas exercised its option to acquire TMS-007, an investigational drug for acute ischemic stroke, from TMS Co Ltd for a one-time $18 million payment.
  • TMS is eligible to receive up to an additional $335 million in potential milestone payments, as well as tiered royalties in the high single digits to sub-teen percentages on annual worldwide net sales.
  • Biogen will be solely responsible for the costs and expenses related to the development, manufacturing, and commercialization of TMS-007 following the acquisition.
  • Biogen's decision to acquire TMS-007 was based on positive data from a Phase 2a study.
  • The study met its primary safety objective with no incidence of symptomatic intracranial hemorrhage (sICH). It demonstrated positive impacts on both blood vessel reopening in the brain and patient functional recovery.
  • In addition, TMS-007 demonstrated a significant improvement on the secondary endpoint of functional independence at 90 days, with 40% of patients who received TMS-007 achieving scores of 0 or 1 on a measure of independence in daily living, compared to 18% of patients who received placebo.
  • The recanalization rate was 58.3% for patients who received TMS-007 compared to 26.7% for patients who received placebo.
  • Final data results from the Phase 2a study are expected to be communicated at a future scientific forum.
  • Price Action: BIIB shares are trading 0.57% higher at $279.97 on the last check Wednesday.
 

Related Articles (BIIB)

View Comments and Join the Discussion!

Posted-In: Briefs StrokeBiotech M&A News Health Care General

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com