Pharma BD Deal Intelligence
Not a real acquisition — BMS out-licensed an anti-tau antibody to Biogen for ~$300M upfront in 2017, and the asset failed in both diseases it was tested in.
Full analysis, sources & comparables →Biogen's $300M licensing of BMS-986168 expands its neurodegenerative franchise with a Phase 2-ready anti-tau antibody, complementing its amyloid-focused…
Gosuranemab, Biogen's anti-tau immunotherapy, did not fly for PSP — the Phase 2 PASSPORT trial missed primary and secondary endpoints, deepening doubts about…
Biogen's $300M bet on the Alzheimer's tau drug snapped up from Bristol Myers flames out in Phase 2, after the TANGO trial missed its primary endpoint and…
Source summaries from our enrichment pipeline; follow links for originals.
All 5 sources with sentiment breakdown →
Biogen exclusively licensed worldwide rights to BMS-986168, a Phase 2-ready anti-extracellular tau antibody, from Bristol-Myers Squibb. BMS received $300M upfront plus up to $410M in development/commercial milestones plus tiered royalties. Biogen planned to advance Phase 2 studies in PSP and Alzheimer's, expanding its neurodegenerative pipeline.
Not a real acquisition — BMS out-licensed an anti-tau antibody to Biogen for ~$300M upfront in 2017, and the asset failed in both diseases it was tested in.
Assessment window: 5yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Biogen Inc. / Bristol-Myers Squibb Company (this deal) | 2017 | $710M | 15 |
| Biogen Inc. / Reata Pharmaceuticals | 2023 | $7.3B | 73 |
| Biogen Inc. / Human Immunology Biosciences | 2024 | $1.1B | 68 |
| Biogen Inc. / RayThera Inc. | 2026 | $1.0B | 52 |
| Biogen Inc. / Nightstar Therapeutics | 2019 | $800M | — |
| Biogen Inc. / TJ Biopharma Co., Ltd. | 2026 | $850M | — |
| Biogen Inc. / Vanqua Bio, Inc. | 2025 | $1.1B | — |
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More: 2017 deals · Biogen Inc. deals · Neurology deals