Biogen, InnoCare Collaborate On Multiple Sclerosis Candidate

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.