Pharma BD Deal Intelligence
Alkermes acquired Rodin Therapeutics in November 2019 for $100M upfront plus up to $850M in clinical, regulatory and sales milestones (~$950M total; closed Nov 25, 2019). The deal added Rodin's preclinical, orally available, brain-penetrant CoREST-selective HDAC inhibitors targeting synaptopathies in neurodegenerative disease. The lead asset, ALKS 1140 (formerly RDN-929), entered a first-in-human Phase 1 study (NCT05019105) with first subject dosed in late 2021, but Alkermes terminated that study on Aug 23, 2022 by "Sponsor Decision" after enrolling 20 of a planned cohort. No successor HDAC-CoREST program has since appeared in Alkermes' pipeline: the company separated its oncology business (Mural Oncology) in November 2023 to become a pure-play neuroscience company centered on the orexin OX2R agonist ALKS 2680. The ~$850M milestone tail is therefore effectively unrealizable and the acquired program is discontinued.
Assessment window: 5yr post-close.