Biogen Pays $31.5M to Genentech to Co-Develop Anti-CD20 Drug

11/3/08

Biogen Idec has agreed to pay $31.5 million upfront to Genentech co-develop a next-generation antibody drug against the CD20 protein on cells, the same target on cells of Rituxan. Cambridge, MA-based Biogen (NASDAQ: BIIB) said Thursday it agreed to participate in the development of GA101, a humanized antibody that’s designed to increase the direct cell-killing capability of the drug, and its ability to stimulate the immune system to add to the fight against blood cancer cells. The drug is currently in Phase I/II clinical trials, Biogen said.

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