Biogen to acquire new schizophrenia treatment from Pfizer

Biogen has announced the acquisition of an investigational schizophrenia therapy from Pfizer for an initial fee of $75 million (GBP 53.8 million).

The first-in-class, phase IIb-ready AMPA receptor potentiator compound, PF-04958242, is currently being analysed as a potential treatment for cognitive impairment associated with schizophrenia.

It has previously demonstrated an acceptable safety profile and treatment effect trends across multiple domains of cognition in phase Ib clinical studies. Based on this early promise, Biogen aims to initiate a phase IIb trial in the second half of 2018.

Under the terms of the deal, Pfizer could receive up to $515 million in additional development and commercialisation milestone payments, as well as tiered royalties in the low to mid-teen percentages.

Michel Vounatsos, Biogen's chief executive officer, said: "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."

The majority of schizophrenia patients experience some degree of cognitive impairment as a result of their disease, making it one of the greatest unmet needs in the treatment of this condition.

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