12:23 PM
Dec 06, 2018
 |  BC Extra  |  Company News

Biogen opts in for Ionis' ALS candidate, plans pivotal trial

Biogen Inc. (NASDAQ:BIIB) exercised its option for exclusive, worldwide rights to BIIB067 (IONIS-SOD1Rx) from Ionis Pharmaceuticals Inc. (NASDAQ:IONS) to treat amyotrophic lateral sclerosis with superoxide dismutase 1 (SOD1) mutations.

Biogen, which opted in after seeing interim Phase I data, plans to begin a pivotal trial of the SOD1-inhibiting antisense oligonucleotide. Biogen declined to give a timeline.

Ionis received $35 million up front upon the option's exercise and is eligible for $55 million in milestones, plus royalties up to the mid-teens. Biogen is responsible for further development and commercialization costs; it held the option under a 2013 collaboration. 
The partners said that in a Phase I trial, the highest tested dose of BIIB067 lowered cerebrospinal fluid SOD1 protein levels over three months vs. placebo (p=0.002).

Biogen added $3.97 to $326.70 Thursday; Ionis was up $0.05 to $56.05.

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