GlobeNewswire

Biogen and C4 Therapeutics Enter into Strategic Collaboration to Discover and Develop Potential New Treatments for Neurological Conditions

Del
  • C4T’s targeted protein degradation platform provides a novel approach to neuroscience drug discovery and development, complementing Biogen’s broader research and development efforts across multiple modalities

CAMBRIDGE, Mass. and WATERTOWN, Mass., Jan. 04, 2019 (GLOBE NEWSWIRE) -- Biogen Inc (Nasdaq: BIIB) and C4 Therapeutics (C4T) announced today that they have entered into a strategic collaboration to investigate the use of C4T’s novel protein degradation platform to discover and develop potential new treatments for neurological conditions, such as Alzheimer’s disease and Parkinson’s disease.

Under the agreement, C4T will provide expertise and research services in targeted protein degradation and Biogen will provide neuroscience expertise and drug development capabilities. Biogen and C4T will research potential targets together and Biogen will advance candidates for development and potential commercialization. Biogen will pay C4T up to a total of $415 million in upfront and potential future milestone payments plus potential future royalties. Biogen expects to record a research and development expense of $15 million to $25 million in the fourth quarter of 2018 related to this transaction.

“C4T’s platform enables the discovery of novel molecules that take advantage of endogenous protein degradation mechanisms to target disease-causing proteins,” said Michael Ehlers, M.D., Ph.D., executive vice president, research and development at Biogen. “This new collaboration with C4T complements our broader research strategy to develop potential therapies for neurological conditions across multiple modalities. We look forward to discovering new potential therapeutic options for diseases that currently have limited-to-no treatment options available.”

“We are excited to work with our Biogen colleagues to take on the challenge of researching new potential therapies for Alzheimer’s disease, Parkinson’s disease and other devastating neurological diseases,” said Andy Phillips, president and chief executive officer of C4T. “Our approach of using the cell’s innate mechanisms to eliminate specific, disease-causing proteins is a promising new way to tackle the challenges of central nervous system diseases. Together with Biogen, a global leader in neuroscience, we are eager to embark on this important effort.”

About Biogen
At Biogen, our mission is clear: we are pioneers in neuroscience. Biogen discovers, develops and delivers worldwide innovative therapies for people living with serious neurological and neurodegenerative diseases. One of the world’s first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Kenneth Murray and Nobel Prize winners Walter Gilbert and Phillip Sharp, and today has the leading portfolio of medicines to treat multiple sclerosis, has introduced the first and only approved treatment for spinal muscular atrophy and is focused on advancing neuroscience research programs in Alzheimer’s disease and dementia, multiple sclerosis and neuroimmunology, movement disorders, neuromuscular disorders, pain, ophthalmology, neuropsychiatry and acute neurology. Biogen also manufactures and commercializes biosimilars of advanced biologics.

We routinely post information that may be important to investors on our website at www.biogen.com. To learn more, please visit www.biogen.com and follow us on social media – TwitterLinkedInFacebookYouTube.

About C4 Therapeutics
C4 Therapeutics (C4T) is pioneering a new class of small-molecule drugs that selectively target disease-relevant proteins for degradation using the innate machinery of the cell. This targeted protein degradation approach has the potential to treat a range of diseases and offers advantages over traditional drugs, such as potential to minimize drug resistance, de-risked starting points, high potency and specificity. To learn more about C4 Therapeutics, visit www.C4Therapeutics.com.

Biogen Safe Harbor Statement
This news release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, relating to the potential benefits and results that may be achieved through Biogen’s collaboration with C4 Therapeutics; risks and uncertainties associated with drug development and commercialization; the potential of Biogen’s commercial business and pipeline programs, including potential therapeutic candidates for the treatment of neurological conditions, including Alzheimer’s disease, Parkinson’s disease and additional neurological disorders; and our future financial and operating results. These forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “possible,” “will” and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements or the scientific data presented.

These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including without limitation, uncertainty as to whether the anticipated benefits and potential of Biogen’s collaboration with C4 Therapeutics can be achieved; risks of unexpected costs or delays; uncertainty of success in the development and potential commercialization of potential therapeutic candidates for the treatment of neurological conditions, including Alzheimer’s disease, Parkinson’s disease and additional neurological disorders, which may be impacted by, among other things, the occurrence of adverse safety events and/or unexpected concerns that may arise from additional data or analysis; regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of these drug candidates; Biogen and C4 Therapeutics may encounter other unexpected hurdles which may be impacted by, among other things, the occurrence of adverse safety events, failure to obtain regulatory approvals in certain jurisdictions, or failure to protect intellectual property and other proprietary rights; product liability claims; or third party collaboration risks. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from Biogen’s expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risk factors identified in Biogen’s most recent annual or quarterly report and in other reports Biogen has filed with the Securities and Exchange Commission. These statements are based on Biogen’s current beliefs and expectations and speak only as of the date of this news release. Biogen does not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

BIOGEN MEDIA CONTACT: 

David Caouette  
+1 617 679 4945
public.affairs@biogen.com   
BIOGEN INVESTOR CONTACT: 

Mike Hencke
+1 781 464 2442
IR@biogen.com   
   
C4 THERAPEUTICS MEDIA CONTACTS:
Kari Watson
+1 781 235 3060
kwatson@macbiocom.com 

Kara Mazey
+1 781 235 3060
kmazey@macbiocom.com 
 

Om GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Følg saker fra GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra GlobeNewswire

Tenaris to Acquire IPSCO Tubulars from TMK22.3.2019 13:58:00 CETPressemelding

LUXEMBOURG, March 22, 2019 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE, Buenos Aires and Mexico: TS and MTA Italy: TEN) announced today that it has entered into a definitive agreement to acquire from PAO TMK, a Russian company and manufacturer of steel pipe, 100% of the shares of its wholly owned U.S. subsidiary IPSCO Tubulars, Inc., for US$1,209 million, on a cash-free, debt-free basis, which includes US$270 million of working capital. The transaction is subject to regulatory approvals, including approval by the U.S. antitrust authorities, and other customary conditions. IPSCO Tubulars is a U.S. domestic producer of seamless and welded OCTG and line pipe products, with an annual production capacity of 450,000 metric tons of steel bars, 400,000 metric tons of seamless pipe and 1,000,000 metric tons of welded pipe, and production facilities spread throughout the country. The acquisition would enhance Tenaris’s position and local manufacturing presence in the U.S. market, extending its produc

Oxford Immunotec Announces Chief Financial Officer Transition21.3.2019 21:01:00 CETPressemelding

OXFORD, United Kingdom and MARLBOROUGH, Mass., March 21, 2019 (GLOBE NEWSWIRE) -- Oxford Immunotec Global PLC (Nasdaq:OXFD) (the "Company"), a global, high-growth diagnostics company, today announced that Richard Altieri, the Company’s Chief Financial Officer (CFO), will retire on April 30, 2019. The Company has appointed Matthew McLaughlin, currently Chief Financial Officer, GE Healthcare – U.S. and Canada, as his successor. Mr. McLaughlin will join Oxford Immunotec as CFO on April 8, 2019. Today’s announcement concludes an extensive search process conducted by the Company. As part of the planned succession, Mr. Altieri, who has led Oxford Immunotec’s global finance organization as CFO since 2012, will remain an active member of the Company’s management team until his retirement date. “During his seven year tenure, Rick successfully managed multiple financing rounds, including the Company's IPO, the acquisition and financial integration of three companies and, most recently, the dives

Blackhawks, Flyers, Sabres and Lightning Headline the 2019 NHL Global Series21.3.2019 15:34:00 CETPressemelding

Chicago Blackhawks and Philadelphia Flyers to Open Regular Season in Prague, Czech Republic on Oct. 4 Buffalo Sabres and Tampa Bay Lightning to Face Off in a Pair of Games in Stockholm, Sweden on Nov. 8 and Nov. 9 2019 NHL Global Series Challenge to feature Blackhawks vs. Eisbären Berlin on Sept. 29 in Berlin, Germany and Flyers vs. Lausanne HC on Sept. 30 in Lausanne, Switzerland Tickets to Games in Berlin, Prague and Stockholm Available for Purchase on Wednesday, March 27; Tickets to Game in Lausanne Available for Purchase on Wednesday, April 10 NEW YORK/TORONTO, March 21, 2019 (GLOBE NEWSWIRE) -- The National Hockey League (NHL) and the National Hockey League Players’ Association (NHLPA), in conjunction with Live Nation Sweden, today announced that the Buffalo Sabres, Chicago Blackhawks, Philadelphia Flyers and Tampa Bay Lightning will participate in the 2019 NHL Global Series. The Chicago Blackhawks and Philadelphia Flyers will play their 2019-20 season-opening game against each ot

Farmako: World's Largest Import Contract for Pharmaceutical Cannabis21.3.2019 15:10:00 CETPressemelding

German Farmako secures 50 tonnes of flowers and oils from Polish company Pharmacann Polska FRANKFURT, March 21, 2019 (GLOBE NEWSWIRE) -- Farmako will import 50 tonnes of pharmaceutical cannabis from Pharmacann Polska into the European market over the next four years. This provides the basis for a reliable supply of pharmaceutical cannabis for millions of patients in the European healthcare system. The company expects a total revenue of several hundred million Euros from the agreed exclusive partnership. Founded in September 2018, Farmako now has grown to 40 employees and is distributing high-quality pharmaceutical cannabis to German pharmacies since March 2019. This is the biggest Cannabis contract to date, and the first big contract without participation of a Canadian LP. Farmako has signed an exclusive and binding agreement to import and distribute 50 tons of pharmaceutical cannabis over four years. Farmako and Pharmacann Polska enter strategic partnership to develop custom tailored

NexOptic Appoints Rich Geruson, Former Lexmark CEO, to Board of Directors21.3.2019 14:00:00 CETPressemelding

VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) -- NexOptic Technology Corp. ("NexOptic" or the "Company") (TSX VENTURE: NXO) (OTCQX: NXOPF) (FRANKFURT: E3O1) is pleased to announce that Richard J. (Rich) Geruson has joined its Board of Directors, effective immediately. Mr. Geruson’s experience spans CEO roles at Lexmark International, Phoenix Technologies and VoiceSignal Technologies, and Senior Vice President and executive positions at Nokia, IBM, Toshiba, and McKinsey & Co. As CEO of Lexmark International, a multibillion-dollar imaging technology and solutions company with 10,000 employees, he grew printer sales faster than at any time in the preceding 10 years while simultaneously executing extensive process reengineering, transforming the business from negative EBITDA and high debt to positive multi-hundred-million-dollar EBITDA and a healthy debt profile. While CEO of Phoenix Technologies, he achieved consistently high profit year-over-year for six years straight in