Shots:
- Biogen has collaborated with City Therapeutics to develop novel RNAi therapies, leveraging the former’s drug delivery tech & City’s RNAi engineering tech
- As per the deal, City will receive $46M incl. $16M upfront + $30M investment in exchange for its convertible note, also eligible to receive ~$1B as development & commercial milestones, with high single-digit to low double-digit tiered royalties on net sales; Biogen can opt to select 1 more target, subject to availability & an additional payment
- Collaboration will initially target key CNS diseases using tissue-enhanced delivery for systemic administration, with Biogen handling IND-enabling studies, global development, regulatory filings, & marketing efforts
Ref: Biogen| Image: Biogen & City Therapeutics| Press Release
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