UPDATE 1-Biogen tops up investment in neurology with $1 bln Ionis deal [Reuters]
Ionis Pharmaceuticals, Inc. (IONS)
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Source: Reuters
Biogen tops up investment in neurology with $1 billion Ionis deal | Reuters Reuters Staff 1 Min Read (Reuters) - Drugmaker Biogen Inc ( BIIB.O ) said on Friday it would pay Ionis Pharmaceuticals Inc ( IONS.O ) $1 billion in cash as part of a new ten-year agreement to develop medicines for a broad range of neurological diseases including dementia. The deal is in line with Biogen’s strategy of investing in neuropsychiatry and gives it the option to license therapies from Ionis that it will then develop and commercialize. The $1 billion payment comprises a $625 million equity investment in Ionis and a $375 million upfront payment. Ionis is also eligible to receive further milestone-based payments, license fees and royalties on net sales of the drugs. The partnership builds on a previously successful deal between the companies wherein Biogen bought the rights to its most promising drug Spinraza, a treatment for rare disease spinal muscular atrophy. The companies said they expect the d
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Earnings
- 2/21/24 - Beat
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Sec Filings
- 4/17/24 - Form 4
- 4/17/24 - Form 4
- 4/16/24 - Form 144
- IONS's page on the SEC website