Biogen: enters option agreement to acquire stroke molecule
(CercleFinance.com) - US biotech firm Biogen has entered into an exclusive option agreement with Japan's TMS to acquire a plasminogen activator with a novel mechanism of action associated with breaking down blood clots.
The agreement includes an upfront payment of 4 million dollars and an additional 18 million dollars payment if Biogen exercises its option, with up to 335 million dollars in potential development and commercialization milestone payments, as well as royalties.
Biogen said the TMS-007 small molecule has an "unique" combination that could position it as a "best in class" thrombolytic for individuals with acute ischemic stroke.
Strokes are the fifth main cause of death in the US, with acute ischemic stroke accounting for approximately 85% of cases.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The agreement includes an upfront payment of 4 million dollars and an additional 18 million dollars payment if Biogen exercises its option, with up to 335 million dollars in potential development and commercialization milestone payments, as well as royalties.
Biogen said the TMS-007 small molecule has an "unique" combination that could position it as a "best in class" thrombolytic for individuals with acute ischemic stroke.
Strokes are the fifth main cause of death in the US, with acute ischemic stroke accounting for approximately 85% of cases.
Copyright (c) 2018 CercleFinance.com. All rights reserved.