miRagen deal: Servier banks on novel drugs to grow cardiovascular business
While some pharmas have concluded cardiovascular disease is well served by generics and are exiting the space, Servier believes it can grow its CV business by in-licensing novel, first-in-class programs.
Last month, Servier agreed to pay $45 million up front to miRagen Therapeutics Inc. to develop and commercialize the biotech's preclinical micro-RNA-targeting agents for cardiovascular disease.
miRagen is eligible for up to $352 million, which includes the upfront, research and near-term milestone payments over the next three years, as well as additional clinical and commercial milestones. Servier also will provide additional development funding, including clinical trials potentially through Phase III, for a total deal value of about $1 billion.
For all this, Servier will have rights only outside the U.S. and Japan, where miRagen retains the