Business Wire

Biogen to Acquire from Pfizer First-in-Class Phase 2b Ready Asset for Cognitive Impairment Associated with Schizophrenia

Jaa

Biogen Inc. (Nasdaq: BIIB) announced today an agreement to acquire from Pfizer Inc. (NYSE: PFE) PF-04958242, a first-in-class, Phase 2b ready AMPA receptor potentiator for cognitive impairment associated with schizophrenia (CIAS). The purchase will include an upfront payment of $75 million with up to $515 million in additional development and commercialization milestone payments, as well as tiered royalties in the low to mid-teen percentages.

AMPA receptors mediate fast excitatory synaptic transmission in the central nervous system, a process which can be disrupted in a number of neurological and psychiatric diseases, including schizophrenia.

PF-04958242 has previously demonstrated an acceptable safety profile and treatment effect trends across multiple domains of cognition in Phase 1b clinical studies. Biogen aims to initiate a Phase 2b trial in the second half of 2018.

“As pioneers in neuroscience, Biogen continues to explore new ways to treat serious diseases where there are few or no options, such as CIAS,” stated Michel Vounatsos, Biogen chief executive officer. “Given the significant unmet patient need and Biogen’s ability to apply its scientific expertise in this area, we are enthusiastic to advance development of this asset as we continue to expand our neuroscience pipeline, including in our emerging growth areas such as neuropsychiatry.”

Worldwide there are greater than 20 million people living with schizophrenia and it is estimated that the majority of them live with some degree of cognitive impairment attributable to the disease. Cognitive impairment is increasingly recognized as one of the greatest unmet needs in the effective treatment of schizophrenia.

“When cognition is impaired, you lose the ability to make sense of the world. Things we often take for granted in our daily lives, including processing information, planning and remembering, all become difficult or impossible,” said Michael Ehlers, executive vice president, Research & Development at Biogen. “Cognition can be impaired in multiple neurological and neuropsychiatric diseases, including schizophrenia. And we know that the extent of cognitive deficits in patients with schizophrenia is a strong predictor of daily functioning. We look forward to quickly pursuing development of this potential innovative therapy to treat such a devastating disease.”

The transaction is subject to customary closing conditions, including the expiration of the applicable waiting period under the Hart Scott Rodino Antitrust Improvements Act of 1976 in the United States.

Biogen expects the deal to close in the second quarter of 2018.

About Biogen

At Biogen, our mission is clear: we are pioneers in neuroscience. Biogen discovers, develops, and delivers worldwide innovative therapies for people living with serious neurological and neurodegenerative diseases. Founded in 1978 as one of the world’s first global biotechnology companies by Charles Weissman, Heinz Schaller, Kenneth Murray, and Nobel Prize winners Walter Gilbert and Phillip Sharp, today Biogen has the leading portfolio of medicines to treat multiple sclerosis; has introduced the first and only approved treatment for spinal muscular atrophy; and is focused on advancing neuroscience research programs in Alzheimer’s disease and dementia, multiple sclerosis and neuroimmunology, movement disorders, neuromuscular disorders, pain, ophthalmology, neuropsychiatry, and acute neurology. Biogen also manufactures and commercializes biosimilars of advanced biologics.

We routinely post information that may be important to investors on our website at

www.biogen.com. Follow us on social media – Twitter, LinkedIn, Facebook, YouTube.

Safe Harbor

This press release contains forward-looking statements, made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to the potential benefits and results that may be achieved through the transaction with Pfizer, risks and uncertainties associated with drug development and commercialization, the potential benefits, safety and efficacy of investigational drugs including PF-04958242 and the anticipated completion and timing of the transaction. These forward-looking statements may be accompanied by such words as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “possible,” “will” and other words and terms of similar meaning. You should not place undue reliance on these statements or the scientific data presented. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval.

These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including, without limitation: risks that the transaction will be completed in a timely manner or at all; uncertainty as to whether the anticipated benefits of the transaction can be achieved; risks of unexpected costs or delays; uncertainty of success in the development and potential commercialization of PF-04958242, which may be impacted by, among other things, unexpected concerns that may arise from additional data or analysis, the occurrence of adverse safety events, failure to obtain regulatory approvals in certain jurisdictions, failure to protect and enforce our data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; product liability claims; and third party collaboration risks. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risks factors identified in our most recent annual or quarterly report and in other reports we have filed with the Securities and Exchange Commission. These statements are based on our current beliefs and expectations and speak only as of the date of this press release. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

Contact information

MEDIA:
David Caouette, +1 617 679 4945
public.affairs@biogen.com
or
INVESTOR CONTACT:
Matt Calistri, +1 781 464 2442
IR@biogen.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

GSMA: Forty CEOs Back Launch of Digital Declaration at Davos24.1.2019 08:00Tiedote

The GSMA today launched the ‘Digital Declaration’ at the World Economic Forum in Davos. The declaration captures key principles that serve as a guide to acting ethically in the digital era, helping companies deliver what matters most to digital citizens, industry and governments. The 40 business leaders who have already committed to the declaration span several industry sectors and include representatives from: Bharti Airtel, China Mobile, China Telecom, Deutsche Telekom, Ericsson, IBM, KDDI, KT, LG Electronics, Mobile World Capital Barcelona, Nokia, NTT DOCOMO, Orange, Samsung Electronics, Sharp, SK Telecom, Sony Corporation, STC Group, Telefónica, Turkcell, Verizon, Vodafone and Xiaomi. The initiative has arisen against a backdrop of businesses and consumers experiencing unprecedented change in the digital world. It is expected that by 2022, 60 per cent of GDP will be digitised1. The imminent arrival of 5G networks will further accelerate this change. At the same time consumers are r

Papa John’s Appoints Marvin Boakye as First Chief People Officer23.1.2019 18:02Tiedote

Papa John’s International, Inc., (NASDAQ: PZZA) one of the world’s largest pizza delivery companies, announced today the appointment of Marvin Boakye as its first Chief People Officer. He will serve as a member of the Papa John’s Executive Leadership Team and report to President and CEO Steve Ritchie. Boakye has more than 20 years of human resources experience, as well as expertise in change management and culture transformation. He has held human resources leadership roles for organizations across the United States, Canada and Latin America. Boakye joins Papa John’s after serving as vice president of human resources at petroleum company Andeavor in San Antonio, Texas, which was recently acquired by Marathon Petroleum. Prior to Andeavor, he was chief human resources officer for MTS Allstream, a telecommunications company now part of Bell Canada, and held senior human resources positions at Goodyear, Pulte Group and The Home Depot. “Boakye’s expertise will help us to continue to push Pa

Global Technology Association ISACA Launching Future-focused Initiatives in Its 50th Anniversary Year23.1.2019 17:22Tiedote

Now more than 450,000 engaged professionals and 140,000 members strong, global information technology association ISACA was founded by seven individuals as the EDP Auditing Association in California at the dawn of the information systems era—1969. Serving audit, governance, risk and cybersecurity professionals and their enterprises, today ISACA has a presence in 188 countries. Headquartered near Chicago, Illinois, USA, ISACA also established an entity in Beijing, China, last year, and acquired the CMMI Institute in 2016. In 2019—its 50th anniversary year—ISACA has adopted the theme, “Honoring Our Past. Innovating Our Future.” The organization has multiple initiatives planned to mark this milestone, including: Transforming IT Audit initiative—In February 2019, ISACA will launch a Transforming IT Audit microsite with resources to help IT auditors successfully navigate the future of the profession, including emerging areas like AI and blockchain, and featuring results from ISACA’s new glo

Wipro Ranked Third Fastest Growing Global IT Services Brand in 201923.1.2019 17:18Tiedote

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, has been ranked the third fastest growing global IT services brand in 2019 in a study conducted by Brand Finance, the world’s leading brand valuation firm. Wipro is also among the top 10 most valuable brands in the global IT services sector. According to Brand Finance’s IT Services annual report for 2019, which features 15 leading brands in the segment, Wipro has a total brand value of USD 4.002 billion, up 25% on year, emerging as one of the strongest brands in the category with an AA+ Brand rating. Brand Finance, in their official press release noted that Wipro’s significant investments in digital transformation capabilities, niche acquisitions, and a recent brand refresh, have propelled it to the third fastest growing brand in the segment. The report analyses the brand value and brand strength of the 5000 largest brands across 38 sectors in t

Velodyne Lidar and YellowScan Lead Drone Surveying Market for Highway Capacity Expansion23.1.2019 16:00Tiedote

Velodyne Lidar, Inc. today announced that the YellowScan Surveyor from YellowScan has utilized Velodyne’s groundbreaking sensor technology to generate precise mapping data for an infrastructure construction project on one of Central Europe’s busiest roadways. YellowScan Surveyor, an unmanned aerial vehicle (UAV) surveying system, improves upon previous time-intensive manual surveying processes by providing a more efficient method for collecting landscape data with increased precision and detail. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190123005054/en/ Ventus-Tech using YellowScan Surveyor, which includes Velodyne Lidar’s Puck™, to generate precise mapping data. (Photo: Business Wire) The project was conducted by Ventus-Tech using YellowScan Surveyor to collect data along a 47-kilometer segment of the M1 highway (E60, E65, E75) in northwestern Hungary. The data, gathered by 88 UAV flights over one month, enabled engine

PMI Among Elite Group of Companies to Score A for Climate Change23.1.2019 15:00Tiedote

Philip Morris International Inc. (PMI) (NYSE: PM) has been highlighted as a global leader on corporate climate action by environmental impact nonprofit CDP, achieving a place on the CDP Climate Change A List for the fifth consecutive year. As the only tobacco company to have scored an A, PMI has been recognized for cutting emissions, mitigating climate risks and developing the low-carbon economy, based on its 2018 disclosure to CDP. “Climate change is one of major concerns for humanity, and companies can make a difference. Just like we are leading our industry’s transformation toward a smoke-free future, we are focused on bettering every part of our business and supply chain to become a leader in sustainable business practices,” said André Calantzopoulos, Chief Executive Officer, PMI. The company’s efforts to reduce the environmental footprint of its operations focus on sustainable design in new facilities, energy efficiency in manufacturing processes, greener purchasing of electricity

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme