Biogen invests $150 million in Neurimmune

The investment from the U.S. company Biogen will allow Neurimmune to fund its growth strategy, according to a statement from the Schlieren-based biotech company announcing the investment. The funds will help financial clinical feasibility studies for Neurimmune’s human antibody pipeline. 

In exchange for the $150 million payment, Neurimmune will give Biogen a 15 per cent reduction in the previously negotiated royalty rates on its Alzheimer’s treatment aducanumab. Biogen licensed the worldwide rights to aducanumab from Neurimmune in 2007 and is responsible for its development and commercialization. 

As part of the amended agreement, Biogen also has an option to further reduce the royalty by another 5 per cent in exchange for an additional one-time payment of $50 million to Neurimmune.

While Neurimmune will use the new funds to accelerate its growth strategy, the amendment agreement will improve aducanumab’s potential value to Biogen. The Alzheimer’s treatment has shown promising results in a recent Phase 1b study and is currently in a Phase 3 study with some 2,700 patients.

Headquartered in the Bio-Technopark in Schlieren-Zurich, Neurimmune develops human therapeutic antibodies for the prevention and treatment of important human diseases with high unmet medical needs.