Biogen Inks $380 Million Deal With Swiss Company

11/20/07

Cambridge, MA-based Biogen Idec (NASDAQ: BIIB) today announced that it has formed an alliance with a Swiss startup, Neurimmune Therapeutics, to develop antibody-based treatments for Alzheimer’s disease. Under the terms of the deal, Biogen could pay up to $380 million for candidate molecules, which it will be responsible for developing and commercializing. In an interview with Bob back in August, Biogen CEO Jim Mullen talked about how deals like these fit into Biogen’s overall innovation strategy.

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