Biogen Inc. and Skyhawk Therapeutics, Inc. have announced a strategic collaboration in which the companies will leverage Skyhawk's SkySTAR™technology platform with the goal of discovering innovative small molecule treatments for patients with neurological diseases. Biogen will have the option to license therapies resulting from the collaboration and will be responsible for their development and potential commercialization.
The agreement grants Biogen an exclusive license to worldwide intellectual property rights on research-stage therapeutic candidates for the treatment of multiple sclerosis (MS), spinal muscular atrophy (SMA) and additional neurological disorders. As part of the agreement, Skyhawk received an upfront payment of $74 million from Biogen and may receive potential future milestone payments and royalties. A portion of the upfront payment will be allocated to future research services, with the remainder expensed in the first quarter of 2019 as research and development.
"Skyhawk's platform offers a powerful approach to target neurological conditions using selective RNA-modulating small molecules, creating exciting possibilities for potential new therapies," said Michael Ehlers, M.D., Ph.D., executive vice president, research and development at Biogen. "This collaboration exemplifies Biogen's commitment to joining forces with innovative companies with the goal of improving the lives of patients living with complex neurological diseases."
"Biogen is a leading neuro-focused biopharmaceutical company with a compelling history of drug development across a range of challenging neurological conditions," said Bill Haney, co-founder and chief executive officer of Skyhawk. "Their strong scientific culture has already produced a series of leading global therapeutics. We look forward to working with their team with the goal of potentially enhancing the treatment options we could bring to the neuroscience community."
Subscribe to our e-Newsletters
Stay up to date with the latest news, articles, and events. Plus, get special offers
from American Pharmaceutical Review – all delivered right to your inbox! Sign up now!