Posted on 19/08/2010 in Pharmaceutical Company Product News Biogen Idec has agreed a partnership with Knopp Neurosciences on the development of a potential new treatment for amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig's disease.
The agreement will see Biogen Idec gain exclusive worldwide marketing rights to KNS-760704, a developmental oral neuroprotective therapy created by Knopp which has already been granted orphan drug status by the European Commission.
Phase II trials which demonstrate the treatment's safety and efficacy have already been completed by Knopp, with Biogen Idec planning to advance the drug to phase III testing in early 2011.
The deal will also see Biogen Idec pay Knoppp up to $265 million (169.6 million pounds) based on the treatment's developmental and commercial progress, as well as purchasing $60 million worth of stock in the company.
Dr George Scangos, chief executive officer of Biogen Idec, said: "This disease is a natural fit for Biogen Idec, given our global capabilities in neurology, and we look forward to beginning a phase III programme."
Last month, Biogen Idec published its fiscal results for the second quarter of 2010, reporting an 11 per cent year-on-year growth in revenue. Other news stories from 19/08/2010
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