Shots:

• Denali to receive $560M up front- $465M as equity investment at a price of $34.94/ share- representing 11.2% of Denali’s Pro-forma outstanding stock along with $1.125B as milestones.
• The two companies will codevelop Denali’s LRRK2 inhibitor for PD and co-commercialize it in the US and China while Biogen has the right to commercialize the therapy in other territories and will pay royalties for the same. Biogen & Denali will share global development cost (60% & 40%) with equal share in profit and loss in the US and in China (60% & 40%) respectively
• Denali’ LRRK2 inhibitor (DNL151) has been progressed into late-stage clinical studies expected to commence in 2021. Additionally- Biogen to receive exclusive option rights to two programs for neurodegenerative diseases utilizing Denali’s TV technology platform- including for amyloid-beta + right of first negotiation for two additional unnamed TV platform programs

­ Ref: Biogen | Image: Biogen