Wednesday, July 25, 2018

AliveGen Sells Drug Candidates To Biogen For As Much As $562.5M

Thousand Oaks-based AliveGen>, a startup developing biopharmacueticals to treat muscle and bone loss and the loss of functional capacity, has sold the rights two two of its early stage drug candidates to Biogen, in a deal worth as much as $562.5M. According to Biogen, it will pay $27.5M upfront, and up to $535M in milestone payments, for the rights to ALG-801 (now known as BIIB110 ) and ALG-802, two compounds used to treat various neuromuscular diseases. AliveGen's compounds are aimed at treating muscle and bone loss associated with various neuromuscular diseases, cancer cachexia, congestive heart failure, geriatric sarcopenia and frailty, as well as in other chronic diseases.

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