January 25, 2018 / 11:35 AM / 4 months ago

BRIEF-Karyopharm Announces Agreement For Biogen To Acquire KPT-350

Jan 25 (Reuters) - Karyopharm Therapeutics Inc:

* KARYOPHARM ANNOUNCES AGREEMENT FOR BIOGEN TO ACQUIRE KPT-350 FOR THE TREATMENT OF NEUROLOGICAL AND NEURODEGENERATIVE CONDITIONS

* KARYOPHARM THERAPEUTICS INC - DEAL VALUED AT UP TO $217 MILLION

* KARYOPHARM THERAPEUTICS - ‍BIOGEN IS ACQUIRING KPT-350 AND OTHER ASSETS TARGETING CERTAIN NEUROLOGICAL CONDITIONS, INCLUDING ALS

* KARYOPHARM - DEAL INCLUDES $10 MILLION UPFRONT PAYMENT TO KARYOPHARM, AND POTENTIAL $207 MILLION IN FUTURE MILESTONES, PLUS ROYALTIES

* KARYOPHARM - CO ALSO ELIGIBLE TO GET TIERED ROYALTIES FROM BIOGEN THAT REACH LOW DOUBLE DIGITS BASED ON FUTURE NET SALES OF SOME PRODUCT CANDIDATES Source text for Eikon: Further company coverage:

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