Biogen Idec and Isis to develop spinal muscular atrophy drug

Biogen Idec has entered into a new collaboration with Isis Pharmaceuticals on the development of a new therapy option for spinal muscular atrophy (SMA).

An exclusive worldwide option and collaboration agreement has been signed that will see the companies working together to develop and commercialise Isis' antisense investigational drug ISIS-SMN, which could help to compensate for the genetic defect that causes SMA.

Isis will receive an upfront fee of $29 million (18.64 million pounds) and could also receive up to $45 million in milestone payments based on the success of its clinical performance prior to licensing.

Biogen Idec would then have an option to acquire global development, regulatory and commercialisation rights to ISIS-SMN, which would see Isis receive a further $225 million plus double-digit royalties on sales.

Dr George Scangos, chief executive officer of Biogen Idec, noted: "SMA is a heartbreaking disease – it can kill children before their second birthday and there are currently no therapies to treat the disease."

Last month, Biogen Idec announced the formation of a new joint venture with Samsung to develop and commercialise new biosimilar products.