Biogen Idec said it has agreed to pay up $380 million to Neurimmune Therapeutics AG in initial fees and milestone payments for the worldwide development and commercialisation of novel, fully human antibodies for the treatment of Alzheimer's disease (AD). Under the terms of agreement, the Zurich-based Neurimmune will research drug candidates using the company's Reverse Translational Medicine (RTM) platform while Biogen Idec will be responsible for commercialisation and development.
The alliance will focus on the development of antibodies that bind to amyloid beta (A?), pathogenic molecule thought to cause neurodegeneration and loss of cognitive function in AD patients. Currently there are no therapies for AD approved to slow or stop the progression of the disease.
"Biogen Idec has the manufacturing, development and commercialisation capabilities to leverage our discovery and technology expertise. With their extraordinary experience in the development of biopharmaceuticals as well as their deep history in neuroscience, Biogen Idec is the perfect partner for Neurimmune," said Edward Stuart, PhD, chief executive officer, Neurimmune. "Our RTM platform is well suited to the identification of novel, safe immunotherapies for the treatment of human disease and we are particularly proud to have entered into this deal less than one year after the founding of the company."
"Biogen Idec has built a leading position in the development and commercialisation of treatments for neurological diseases such as multiple sclerosis. This alliance with Neurimmune enables us to be at the forefront of applied Alzheimer's research, with access to an outstanding team of researchers and a remarkable technology platform," said Alfred Sandrock, MD, PhD, senior vice president, Neurology Research and Development, Biogen Idec.
Alzheimer's disease is the most prevalent age-related neurodegenerative disease affecting more than 15 million patients worldwide. Alzheimer's disease patients experience the progressive loss of cognitive functions, particularly those related to memory, followed by death eight to 15 years following a progressive decline in their disease. The pathology of Alzheimer's disease is characterized by distinctive features including the deposition of A? in the form of senile plaques and the loss of specific neuronal populations in the brain.
Professor Roger Nitsch, a founder of Neurimmune and head of the Division of Psychiatric Research at the University of Zurich commented, "We have realized our aim of bringing our RTM platform to this advanced stage in such a short time period. We look forward to the advancement of these products for the benefit of Alzheimer's disease patients."
Neurimmune Therapeutics AG is an emerging leader in neurodegenerative disease drug development. Based on its proprietary Reverse Translational Medicine (RTM) platform, the company is focusing on the goal to develop a pipeline of safe and potent immunotherapies that circumvent the potential side effects of active vaccination. Neurimmune Therapeutics started operations in 2007 and is a spin-off of the University of Zürich, Switzerland.
Biogen Idec creates new standards of care in therapeutic areas with high unmet medical needs. Founded in 1978, Biogen Idec is a global leader in the discovery, development, manufacturing, and commercialisation of innovative therapies. Patients in more than 90 countries benefit from Biogen Idec's significant products that address diseases such as lymphoma, multiple sclerosis, and rheumatoid arthritis. The company's corporate headquarters are in Cambridge, MA and all international functions and operations are coordinated from its International Headquarters in Zug, Switzerland.