Biogen and Alkermes to develop new multiple sclerosis therapy

Biogen has announced a new partnership with Alkermes on the development of a new multiple sclerosis therapy.

The global license and collaboration agreement will see the companies working together to develop and commercialise ALKS 8700, a novel, oral, monomethyl fumarate small drug molecule in phase III development for the treatment of relapsing forms of multiple sclerosis.

Biogen will reimburse Alkermes for 50 percent of the development costs of the drug, including an upfront payment of $28 million (20.88 million pounds), representing Biogen's share of development expenses already incurred in 2017.

From the start of next year, Biogen will be responsible for all development expenses related to ALKS 8700, with Alkermes to receive milestone payments with a maximum aggregate value of $200 million. Alkermes will maintain responsibility for regulatory interactions with the US Food and Drug Administration.

Michel Vounatsos, chief executive officer at Biogen, said: "This partnership is further evidence of Biogen's ongoing commitment to multiple sclerosis and builds upon our deep experience in neuroscience, and particularly in multiple sclerosis."

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