- Biogen Inc BIIB is paying $125 million upfront to work on InnoCare Pharma Limited's orelabrutinib, a small oral molecule Bruton's tyrosine kinase inhibitor (BTKi) for multiple sclerosis.
- InnoCare is eligible to receive up to $812.5 million in potential milestone payments, as well as a percentage of sales, should it gain approval.
- With the ability to cross the blood-brain barrier, orelabrutinib could stop B cell and myeloid cell effector functions in the central nervous system.
- The candidate is currently being investigated in a global Phase 2 study in relapsing-remitting multiple sclerosis patients.
- Price Action: BIIB shares closed at $349.04 on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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