Biogen, Capsigen Ink $1.3B AAV Capsids Development Pact For CNS & Neuromuscular Disorders

Biogen Inc BIIB and Capsigen Inc have entered into a strategic research collaboration to engineer novel adeno-associated virus (AAV) capsids with the potential to deliver gene therapies for various CNS and neuromuscular disorders.
As a part of the collaboration, Capsigen's proprietary TRADE platform and associated technologies will be utilized to create and identify novel AAV capsids.
Under the terms of the agreement, Biogen will receive an exclusive license under Capsigen's proprietary technology for an undisclosed number of CNS and neuromuscular disease targets.
Capsigen will receive a $15 million upfront payment and is eligible to receive up to $42 million in potential research milestones and up to an additional $1.25 billion in potential development and commercial payments.
Price Action: BIIB shares closed 0.6% higher at $275.61 on Monday.