On October 29, 2024, Biogen Inc. and Neomorph Inc. announced a research collaboration focused on discovering and developing molecular glue degraders for high-priority targets in Alzheimer’s, rare neurological, and immunological diseases. This partnership aims to leverage Neomorph's proprietary molecular glue discovery platform to accelerate the identification and validation of novel small molecule therapeutic molecular glue degraders.
Under the terms of the agreement, Neomorph will receive an upfront payment and is eligible for contingent milestone payments per target as the collaboration progresses through various stages, totaling up to $1.45 billion. These payments include certain pre-clinical milestones in the near-term and clinical, regulatory, commercial, and sales milestones anticipated later this decade and beyond. Neomorph is also eligible for potential future royalties ranging from mid-single digits to low double-digits.
Biogen will reimburse Neomorph for specific research development costs and will be responsible for advancing clinical candidates for further development and potential commercialization. This collaboration aligns with Biogen's modality-agnostic research strategy, investing in new approaches to address biological targets that have historically been difficult to drug, with the goal of creating clinically meaningful therapies for patients.
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