Global Briefs: Biogen, AstraZeneca & More
A roundup of bio/pharmaceutical news from Biogen/Stoke Therapeutics, AstraZeneca/Fibrogen and Boehringer Ingelheim.
Partnering News
* Biogen, Stoke In $550-M Pact for Rare-Disease Anti-Seizure Drug
M&A News
* AstraZeneca To Acquire Fibrogen China in $160-M Deal
Appointments
* BI Names New President, US Pharma
Partnering News
Biogen, Stoke In $550-M Pact for Rare-Disease Anti-Seizure Drug
Biogen and Stoke Therapeutics, a Bedford, Massachusetts-based bio/pharmaceutical company, have entered an agreement for the development and commercialization in all territories outside the US, Canada, and Mexico for zorevunersen, a rare-disease drug for treating Dravet syndrome, a severe form of epilepsy, in a deal worth up to $550 million ($165 million upfront and $385 million in milestone payments).
Zorevunersen is an investigational antisense oligonucleotide (ASO) that targets the SCN1A gene, the underlying cause of most cases of Dravet syndrome. Stoke recently announced plans to initiate a global Phase III registrational study of zorevunersen following successful alignment with regulatory agencies in the US, Europe, and Japan. The study is on track to initiate in the second quarter of 2025, with a pivotal data readout expected in the second half of 2027, which is anticipated to support global regulatory filings.
Stoke will continue to lead global development and retains exclusive development and commercialization rights for zorevunersen in the US, Canada, and Mexico. Biogen receives exclusive rights to commercialize zorevunersen in the rest of the world. Upon closing of the transaction, Stoke will receive an upfront payment of $165 million. The parties will share external clinical development costs for zorevunersen (30% Biogen; 70% Stoke). Additionally, Stoke may receive up to $385 million in development and commercial milestone payments. Stoke will also be eligible to receive tiered royalties ranging from low double digits to high teens on potential net sales in the Biogen territory.
Stoke has also granted Biogen an option to license rights outside of the US, Canada, and Mexico to certain future follow-on ASO products targeting SCN1A, in exchange for separate milestone, cost sharing, and royalty considerations.
Source: Biogen
M&A News
AstraZeneca To Acquire Fibrogen China in $160-M Deal
AstraZeneca has agreed to acquire the Chinese subsidiary of FibroGen, a San Franciso, California-based bio/pharmaceutical company, for $160 million.
Upon closing, AstraZeneca will obtain all rights in China to roxadustat, a drug for treating anemia in chronic kidney disease with a pending regulatory decision for chemotherapy-induced anemia.
Under the agreement, FibroGen will receive an enterprise value of $85 million plus FibroGen net cash held in China at closing, currently estimated to be approximately $75 million, totaling approximately $160 million. The transaction is expected to close by mid-2025, pending customary closing conditions, including regulatory review in China.
Source: Fibrogen
Appointments
BI Names New President, US Pharma
Boehringer Ingelheim (BI) has appointed Brian Hilberdink, formerly Executive Vice President at Leo Pharma, a Ballerup, Denmark-based bio/pharmaceutical company, as BI’s President for US Human Pharma.
Hilberdink most recently served as Executive Vice President at Leo Pharma, where he acted as head of the North American Region and President of the US affiliate. Prior to his tenure at Leo Pharma, Hilberdink held several senior-level positions at Novo Nordisk.
Source: Boehringer Ingelheim
