Biogen Exercises Option for Exclusive License to BIIB115

Biogen exercised its option to obtain from Ionis a worldwide, exclusive license to develop and commercialize BIIB115/ION306. The companies have a broad strategic collaboration to develop novel therapies to treat neurological disorders. BIIB115 is an investigational Antisense oligonucleotide (ASO) in development for spinal muscular atrophy (SMA) that may have the potential to help address additional unmet needs. Biogen plans to advance BIIB115 to Clinical Trials to investigate safety, tolerability, pharmacokinetics, and Efficacy 

SMA is characterized by loss of motor neurons in the spinal cord and lower brain stem, resulting in severe and progressive muscular atrophy. People with SMA do not produce enough survival motor neuron (SMN) Protein , which is critical for the maintenance of motor neurons. BIIB115 is designed to target a root cause of SMA by increasing the production of functional SMN protein.

As a part of the option exercise, Biogen made a one-time $60 million payment to Ionis in 4Q21. Future payments may include potential post-licensing development, regulatory and commercial milestone payments and royalties on annual worldwide net sales. Biogen will be solely responsible for the costs and expenses related to the development, manufacturing and potential future commercialization of BIIB115 following the option exercise.