Biogen And Neomorph Collaborate To Develop Molecular Glue Degraders For Alzheimer's And More

(RTTNews) - Biogen Inc. (BIIB) and Neomorph Inc. announced a research collaboration to discover and develop molecular glue degraders for priority targets in Alzheimer's, rare neurological, and immunological diseases.

As part of the collaboration, the companies aim to utilize 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 to receive contingent milestone payments per target as the collaboration progresses through various stages. These include certain pre-clinical milestones payable in the near-term and certain clinical, regulatory, commercial and sales milestones that are anticipated to occur later this decade and beyond, for a total consideration of up to $1.45 billion.

Biogen will reimburse Neomorph for certain research development costs. Neomorph is also eligible to receive potential future royalties in the mid-single digit to low double-digit range.