Biogen and City Therapeutics have entered a strategic collaboration to develop novel RNA interference (RNAi)-based therapies targeting central nervous system diseases.
The collaboration combines City Therapeutics’ next-generation RNAi engineering technologies with Biogen’s drug development expertise
Under the partnership, City Therapeutics will receive a total of $46m, comprising a $16m upfront payment and a $30m investment for a convertible note representing a minority equity interest.
Also, the company could receive up to $1bn in potential milestone payments, contingent on achieving certain development and commercial milestones.
Biogen will oversee IND-enabling studies, global clinical development, regulatory submissions, and all commercialisation activities.
In addition, the company may select another target for further collaboration, subject to additional payment and target availability.
Biogen research head Jane Grogan said: “This collaboration underscores Biogen’s new strategic research approach of balancing our differentiated internal capabilities with external investments in cutting-edge science.
“With this effort, we are further expanding the modalities in our R&D toolbox to potentially reach our targets of interest more precisely by adding an RNAi-based approach.
“We are excited to collaborate with City Therapeutics and their world-class scientists on key programs, as well as to invest in their company as part of this innovative effort to develop new approaches to treating disease.”
Based in Cambridge, Massachusetts, City Therapeutics is a biopharmaceutical firm dedicated to advancing RNAi-based medicines.
The company has raised $135m from life sciences investors and is building a pipeline of RNAi therapeutics across multiple therapeutic areas.
The partnership will initially focus on a single target associated with key central nervous system diseases, using tissue-enhanced delivery technologies.
City Therapeutics will use its advanced RNAi engineering to develop an RNAi trigger molecule, which will be paired with Biogen’s proprietary drug delivery technology.
City Therapeutics CEO Andy Orth said: “Partnering with Biogen represents a meaningful milestone in our mission to expand the therapeutic reach of RNAi, as we pioneer the next generation of RNAi technology for breakthrough medicines.
“By combining our novel RNAi platform with Biogen’s industry-leading capabilities in global drug development, we aim to accelerate the advancement of therapies for serious diseases.
“We look forward to demonstrating the potential of our RNAi platform in addressing this area of significant unmet need.”
