As the world waits for Biogen to submit what could be the first new Alzheimer’s disease drug in several years, the Cambridge drugmaker has struck a deal to develop at least one more potential treatment for the memory-deteriorating disease.
Biogen (Nasdaq: BIIB) is paying California biotech Sangamo Therapeutics Inc. (Nasdaq: SGMO) $350 million upfront and upwards of $2.37 billion in milestone payments through the deal announced after markets closed Thursday.
The two companies will collaborate on a handful of gene therapies, including ST-501 for Alzheimer’s, ST-502 for Parkinson’s disease and a neuromuscular drug. Biogen will also have exclusive rights to nine additional treatment candidates.
The scientific community has not identified a specific gene that causes Alzheimer’s, but has highlighted some genes that heighten a person’s risk of having the disease.
“The combination of Sangamo’s proprietary zinc finger technology, Biogen’s unmatched neuroscience research, drug development, and commercialization experience and capabilities, and our shared commitment to bring innovative medicines to patients with neurological diseases establishes the foundation for a robust and compelling collaboration,” Stephane Boissel, Sangamo’s head of corporate strategy, said in a statement.
