April 20, 2018 / 2:33 PM / 3 months ago

BRIEF-Biogen And Ionis Expand Strategic Collaboration To Develop Drug Candidates For A Broad Range Of Neurological Diseases

April 20 (Reuters) - Biogen Inc:

* BIOGEN AND IONIS EXPAND STRATEGIC COLLABORATION TO DEVELOP DRUG CANDIDATES FOR A BROAD RANGE OF NEUROLOGICAL DISEASES

* BIOGEN INC - BIOGEN WILL PAY IONIS $1 BILLION IN CASH, INCLUDING AN EQUITY INVESTMENT IN IONIS STOCK AND AN UPFRONT PAYMENT

* BIOGEN INC - WILL HAVE OPTION TO LICENSE THERAPIES ARISING OUT OF COLLABORATION AND WILL BE RESPONSIBLE FOR THEIR DEVELOPMENT AND COMMERCIALIZATION

* BIOGEN INC - $1 BILLION PAYMENT INCLUDES $625 MILLION TO BUY 11.5 MILLION SHARES OF IONIS COMMON STOCK AT $54.34 PER SHARE, $375 MILLION UPFRONT PAYMENT

* BIOGEN INC - UNDER TERMS OF COLLABORATION CO MAY PAY MILESTONE PAYMENTS, LICENSE FEES AND ROYALTIES ON NET SALES

* BIOGEN INC - IN COLLABORATION, IONIS WILL BE RESPONSIBLE FOR IDENTIFICATION OF ANTISENSE DRUG CANDIDATES BASED ON SELECTED TARGETS

* BIOGEN - IN COLLABORATION BIOGEN WILL BE RESPONSIBLE FOR AND PAY FOR NON-CLINICAL STUDIES, CLINICAL DEVELOPMENT, MANUFACTURING, AND COMMERCIALIZATION

* BIOGEN - CO, IONIS EXPANDED COLLABORATION THROUGH NEW 10-YEAR AGREEMENT TO DEVELOP NOVEL ANTISENSE DRUG CANDIDATES FOR RANGE OF NEUROLOGICAL DISEASES Source text for Eikon: Further company coverage:

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