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Biogen acquires late-stage stroke candidate from Remedy Pharma for $120M upfront

Published 05/15/2017, 08:39 AM
© Reuters.  Biogen acquires late-stage stroke candidate from Remedy Pharma for $120M upfront
BIIB
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  • Biogen (NASDAQ:BIIB) acquires CIRARA (intravenous glyburide) from Remedy Pharmaceuticals. The target indication is the treatment of a severe form of ischemic stroke with brain swelling called large hemispheric infarction (LHI). In the U.S. it has Orphan Drug and Fast Track status.
  • Under the terms of the transaction, Remedy will receive an upfront payment of $120M, undisclosed milestones and sales-based royalties.
  • Remedy says CIRARA inhibits a specific channel called Sur1-Trpm4 that is upregulated following ischemic and traumatic injury. The channel allows excess sodium to move into cells followed by in influx of water which leads to swelling, damage and death.
  • Now read: Biogen Inc. 2017 Q1 - Results - Earnings Call Slides


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