Biogen and Neomorph Announce Multi-Target Research Collaboration to Discover and Develop Molecular Glue Degraders for Alzheimer’s, Rare, and Immunological Diseases
October 29 2024 - 6:00PM
UK Regulatory
Biogen and Neomorph Announce Multi-Target Research
Collaboration to Discover and Develop Molecular Glue Degraders
for Alzheimer’s, Rare, and Immunological Diseases
- The collaboration aims to discover and
develop molecular glue degrader clinical candidates for priority
targets to Biogen.
- Collaboration leverages Neomorph's leading molecular glue
discovery platform and Biogen’s deep expertise in Alzheimer’s,
rare, and immunological diseases.
CAMBRIDGE, Mass. and SAN DIEGO, Calif., Oct. 29, 2024 (GLOBE
NEWSWIRE) -- Biogen Inc. (Nasdaq: 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. Small molecule
protein degraders have been shown to effectively drug challenging
targets with differentiated pharmacology from more traditional
inhibitors. Pursuing innovative solutions aimed at modulating
protein levels through targeted degradation holds promise for
treating complex neurological, immunological and rare diseases.
This collaboration will leverage Neomorph’s research strengths in
targeted protein degradation and Biogen’s deep scientific expertise
and drug development capabilities.
"As part of our modality agnostic research strategy, Biogen is
committed to investing in new approaches to unlock biological
targets that have remained difficult to reach," said Jane Grogan,
Ph.D., Head of Research at Biogen. "This collaboration with
Neomorph reflects the approach we want to take to pair our internal
drug development expertise with cutting-edge external innovation to
create clinically meaningful therapies for patients."
"Neomorph's molecular glue degrader platform represents a unique
approach to drug discovery," said Phil Chamberlain, DPhil,
Co-Founder, President, and Chief Executive Officer of Neomorph. "We
are excited to partner with Biogen, a leader in Alzheimer’s, rare,
and immunological diseases, to explore the potential of our
technology in addressing some of the most challenging and valuable
targets in these fields."
Under the terms of the agreement, Biogen and Neomorph will
collaborate to identify, validate, and optimize small molecule
molecular glue degraders for several high-priority targets and
Biogen will advance clinical candidates for further development and
potential commercialization. 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 $1.45B. 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.
About Biogen
Founded in 1978, Biogen is a leading biotechnology company that
pioneers innovative science to deliver new medicines to transform
patients’ lives and to create value for shareholders and our
communities. We apply deep understanding of human biology and
leverage different modalities to advance first-in-class treatments
or therapies that deliver superior outcomes. Our approach is to
take bold risks, balanced with return on investment to deliver
long-term growth.
We routinely post information that may be important to investors
on our website at www.biogen.com. Follow us on social
media - Facebook, LinkedIn, X, YouTube.
About Neomorph
Neomorph is a biotechnology company solving critical problems in
human health through the discovery and development of innovative
new medicines against ‘undruggable’ targets. Neomorph was founded
in 2020 and is venture-backed by Deerfield Management Company.
Neomorph’s team is comprised of industry-leading experts in
protein degradation and molecular glues who have a track record of
groundbreaking discoveries in the field. The team at Neomorph is
committed to leadership in advancing the science and technology of
molecular glue drug discovery while prosecuting a pipeline of
projects through clinical development.
Neomorph is headquartered in San Diego, California. For more
information, visit www.neomorph.com and follow us
on LinkedIn.
Biogen Safe Harbor
This press release contains forward-looking statements, including
statements relating to our strategy and plans; potential of, and
expectations for, our commercial business and pipeline programs;
capital allocation and investment strategy; clinical development
programs, clinical trials, and data readouts and presentations; the
potential for molecular glue degraders; regulatory discussions,
submissions, filings, and approvals; and the potential benefits,
safety, and efficacy of our and our collaboration with Neomorph.
These forward-looking statements may be accompanied by words such
as "aim," "anticipate," "believe," "could," "estimate," "expect,"
"forecast," "goal," "intend," "may," "plan," "potential,"
"possible," "prospect," "will," "would," and other words and terms
of similar meaning. Drug development and commercialization involve
a high degree of risk, and only a small number of research and
development programs result in commercialization of a product.
Results in early-stage clinical trials may not be indicative of
full results or results from later-stage or larger-scale clinical
trials and do not ensure regulatory approval. You should not place
undue reliance on these statements.
These statements involve risks and uncertainties that could
cause actual results to differ materially from those reflected in
such statements, including our dependence on sales from our
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rights; and the risks and uncertainties relating to intellectual
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These statements speak only as of the date of this press
release. We do not undertake any obligation to publicly update any
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MEDIA CONTACT(S):
Biogen
Jack Cox
+ 1 781 464 3260
public.affairs@biogen.com
Neomorph
media@neomorph.com
|
INVESTOR CONTACT(S):
Biogen
Stephen Amato
+1 781 464 2442
IR@biogen.com
Neomorph
inquiries@neomorph.com
|
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