Pharma BD Deal Intelligence

Biogen Inc. / Bristol-Myers Squibb Company

2017 · Licensing/Option · $710M · Complete

Announcement Sentiment

Skeptical

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.

Did it work? Outcome assessment

Strategic verdict

Failed to Achieve

Financial impact

Impaired/Written Down

Pipeline outcome

Assets Terminated

Assessment window: 5yr post-close.

Key facts

Announced Apr 13, 2017
Closed Jun 30, 2017
Deal value $710M
Deal type Licensing/Option
Therapeutic area Progressive supranuclear palsy; Alzheimer's disease
Indications Progressive supranuclear palsy; Alzheimer's disease
Key assets BMS-986168 (gosuranemab)
Mechanism Anti-extracellular tau monoclonal antibody

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