Biogen licenses amyloid beta-related program from Denali
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- Denali Therapeutics (NASDAQ:DNLI) added ~3% pre-market Wednesday in reaction to Biogen’s (NASDAQ:BIIB) decision to excise an option to license the company’s Antibody Transport Vehicle (ATV): Amyloid beta program (ATV:Aβ).
- The transaction follows the recent advancement in the development of Aβ-directed therapeutic antibodies against Alzheimer’s disease, Chief Scientific Officer of Denali (DNLI) Joseph Lewcock noted.
- “Our ATV:Aβ program is designed to safely increase exposure of the therapeutic antibody in the brain and potentially lead to improved efficacy and/or safety,” Lewcock added.
- Following the transaction, Denali (DNLI) is entitled to a one-time option exercise payment in addition to development and commercial milestone payments and royalties based on future net sales.
- The option exercise is part of a collaboration the two companies announced in 2020.