Pharma BD Deal Intelligence

Biogen Inc. / Stoke Therapeutics, Inc.

2025 · Licensing/Option · $550M · Complete

Biogen and Stoke Therapeutics entered a collaboration to develop and commercialize zorevunersen, an investigational antisense oligonucleotide for Dravet syndrome. Stoke receives $165M upfront and is eligible for up to $385M in milestones plus tiered royalties described as low-double-digit to high-teen percentages on net sales in Biogen territory. Biogen holds exclusive commercialization rights outside the US, Canada and Mexico; Stoke retains those three markets and leads global development. External clinical development costs are shared 30% Biogen / 70% Stoke. Stoke also granted Biogen an option on certain future SCN1A-targeting follow-on ASOs outside Mexico.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2030 at the earliest for this deal, once/if it closes.

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