Invest-to-own: Biogen backs Ataxion Series A
This article was originally published in Scrip
Atlas Venture and Biogen Idec funded a $17m Series A funding round for Ataxion in an invest-to-own structure that gives Biogen an option to buy the startup company if its pan-ataxia drug candidate successfully completes a Phase I clinical trial.
You may also be interested in...
Public Company Edition: Five out of six drug developers and a CRO have seen their values spike immediately after going public this month. Also, Moderna floats a $500m offering, Revance proposes a $20m note sale, and Nestle invests another $200m in Aimmune.
Biohaven is still studying its glutamate modulator in three other indications, but its biggest near-term milestone will be approval of the oral CGRP inhibitor rimegepant for acute migraine.
Despite positive Phase III results in Lennox-Gastaut syndrome, the effect of the company’s low-dose fenfluramine on serious seizures may not be as good as seen with GW Pharma’s Epidiolex.