Neuroscience Reaches A New Inflection Point, Big Biotechs Say
Celgene and Biogen are investing in the challenging therapeutic area, fueled by advances in science, growing understanding of the role inflammation may play in neurodegenerative diseases and improved tools for measuring efficacy.
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EVP Michael Ehlers swaps public company scrutiny for early-stage, venture-funded opportunities at Apple Tree Partners and Limelight Bio, while CMO and longtime Biogen executive Alfred Sandrock reclaims R&D oversight role.
It is a risky business but the biotech major is paying $150m upfront, and potentially hundreds of millions of dollars more, to work with Prothena and develop therapies targeted at proteins implicated in highly challenging neurodegenerative diseases such as Alzheimer's and ALS.
Public Company Edition: Denali launched this year's largest biopharma IPO. Also, Valeant sold notes to retire older debt, while bluebird, Blueprint and others capitalized on data presented at ASH.