WESTON (dpa-AFX) - Biogen Inc. (BIIB), a biotechnology company, on Thursday announced that it has entered into a definitive agreement to acquire Massachusetts-based Alcyone Therapeutics for an upfront cash payment of $85 million.
The deal is along with additional milestone payments tied to the development and regulatory approval of ThecaFlex DRx with nusinersen and other pipeline products.
As part of their existing partnership, the companies are advancing ThecaFlex DRx, an implantable subcutaneous port and catheter device designed for intrathecal delivery of antisense oligonucleotides.
The system is intended to provide an alternative to repeat lumbar punctures in chronic intrathecal administration, easing patient experience and accessibility for people with neurologic disorders.
Following the deal, the company will lead development, manufacturing, and commercialization of ThecaFlex DRx.
The ThecaFlex DRx system is initially being evaluated with SPINRAZA or nusinersen in spinal muscular atrophy patients, with ongoing PIERRE and PIERRE-PK clinical studies.
The company plans to introduce the new delivery system for SPINRAZA in early 2028.
In the pre-market trading, 0.50% higher at $145.60 on the Nasdaq.
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