Biogen stated Monday it has agreed to purchase an early-stage experimental treatment from Pfizer that it intends to test in people who have Alzheimer’s and Parkinson’s disease.
Under the agreement, Pfizer will get $75 million upfront and will be eligible for $635 million in potential milestone payments.
Biogen stated it aims to develop the early-stage candidate for treating Sundowning associated with Alzheimer’s and Irregular Sleep-Wake Rhythm Disorder (ISWRD) for sufferers who have Parkinson’s illness. The company aims to begin a study in the fourth quarter.
Sundowning is a symptom that impacts 20% or more of people living with Alzheimer’s who become confused and anxious later within the day. At the same time, ISWRD is a circadian rhythm dysfunction where sufferers experience fragmented sleep at night.
“This asset is highly complementary to our existing pipeline of potential illness-modifying treatments in Alzheimer’s and Parkinson’s illnesses,” Biogen’s Chief Medical Officer Alfred Sandrock Jr. stated.
Biogen scrapped development of its experimental Alzheimer’s medicine, aducanumab, in March 2019, and then reversed course in October, saying it planned to file for U.S. permission of the drug in early 2020, citing a new analysis of data.
Companies have attempted and failed for years to develop an effective remedy for Alzheimer’s efficiently.
Wall Street analysts predict aducanumab might reap $4 billion in annual sales within a few years of clearance.