Billion-dollar Biogen deal gives Denali fuel to validate CNS delivery platform
Denali to advance lead Parkinson’s program, BBB-penetrant candidates with cash infusion from Biogen
With more than $1 billion in upfront money via its biggest deal yet, Denali now has enough firepower to bring its lead program into late-stage testing and validate its CNS delivery technology in the clinic.
The deal with Biogen Inc. (NASDAQ:BIIB) also helps Denali Therapeutics Inc. (NASDAQ:DNLI) derive value from its Transport Vehicle (TV) technology in areas where it wasn’t planning to invest.
The agreement's cash and equity upfront payment brings the company’s cash position to a little