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Biogen To Acquire Clinical Stage PF-05251749 From Pfizer - Quick Facts

Biogen Inc. (BIIB) announced an agreement to acquire from Pfizer Inc. (PFE) PF-05251749, a CNS-penetrant small molecule inhibitor of casein kinase 1, for the potential treatment of patients with behavioral and neurological symptoms across various psychiatric and neurological diseases. The deal will include an upfront payment of $75 million with up to $635 million in potential additional development and commercialization milestone payments, as well as tiered royalties in the high single digits to sub-teens.

PF-05251749 has previously demonstrated an acceptable safety profile and proof of mechanism in a phase 1a clinical study. Biogen plans to develop this asset for the treatment of Sundowning in Alzheimer's disease and Irregular Sleep Wake Rhythm Disorder in Parkinson's disease. The company aims to initiate a phase 1b study in the fourth quarter of 2020.

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