Biogen announced Friday a pair of deals with C4 Therapeutics and Skyhawk Therapeutics to develop drugs for neurological conditions, such as Alzheimer's disease, multiple sclerosis, Parkinson's disease and spinal muscular atrophy (SMA).
Under the first agreement, Biogen will use C4 Therapeutics' protein degradation platform to research potential targets, with the former advancing candidates for development and potential commercialisation. Biogen will pay C4 Therapeutics up to $415 million in upfront and potential milestones, plus potential future royalties.
Michael Ehlers, executive vice president of R&D at Biogen, noted that C4 Therapeutics' platform "enables the discovery of novel molecules that take advantage of endogenous protein degradation mechanisms to target disease-causing proteins." Meanwhile, Ehlers said that Skyhawk's SkySTAR platform "offers a powerful approach to target neurological conditions using selective RNA-modulating small molecules, creating exciting possibilities for potential new therapies."
As part of the second deal, Biogen made a one-time upfront $74 million payment to Skyhawk for research services and an exclusive license to therapeutic candidates for multiple sclerosis, SMA and other neurological diseases. Biogen will have the option to license therapies resulting from the collaboration and will be responsible for their development and potential commercialisation. Part of the upfront payment will be allocated to future research services, with the rest expensed as R&D in the current quarter.