(RTTNews) - Biogen Inc. (BIIB) and Ionis Pharmaceuticals, Inc. (IONS) said Biogen exercised its option to obtain from Ionis a worldwide, royalty-bearing license to develop and commercialize BIIB115/ION306, a preclinical investigational antisense oligonucleotide in development for spinal muscular atrophy. As a part of the option exercise, Biogen made $60 million payment to Ionis in the fourth quarter of 2021.
Biogen plans to advance BIIB115 to clinical trials to investigate safety, tolerability, pharmacokinetics, and efficacy. Biogen will be solely responsible for the costs and expenses related to the development, and potential future commercialization of BIIB115 following the option exercise.
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