Biogen To Acquire PF-05251749, A Novel Clinical Stage Asset With Application in Alzheimer's And Parkinson's From Pfizer; Pfizer To Receive $75M Upfront And Up To $635M In Milestones

PF-05251749 is a CNS-penetrant regulator of circadian rhythm with potential to address behavioral and neurological symptoms across various psychiatric and neurological diseases   Biogen to pay Pfizer $75 million

Benzinga · 01/13/2020 12:32
  • PF-05251749 is a CNS-penetrant regulator of circadian rhythm with potential to address behavioral and neurological symptoms across various psychiatric and neurological diseases
     
  • Biogen to pay Pfizer $75 million upfront plus potential milestones of up to $635 million, and royalties
     
  • PF-05251749 complements the Company’s pipeline of potential disease-modifying therapies for Alzheimer’s and Parkinson’s diseases

CAMBRIDGE, Mass., Jan. 13, 2020 (GLOBE NEWSWIRE) -- Biogen Inc. (NASDAQ:BIIB) today announced an agreement to acquire from Pfizer Inc. (NYSE:PFE) PF-05251749, a novel CNS-penetrant small molecule inhibitor of casein kinase 1 (CK1), for the potential treatment of patients with behavioral and neurological symptoms across various psychiatric and neurological diseases. In particular, Biogen plans to develop the Phase 1 asset for the treatment of Sundowning in Alzheimer’s disease (AD) and Irregular Sleep Wake Rhythm Disorder (ISWRD) in Parkinson’s disease (PD). The purchase will include an upfront payment of $75 million with up to $635 million in potential additional development and commercialization milestone payments, as well as tiered royalties in the high single digits to sub-teens.