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Biogen Idec Buys Stromedix, Bringing IPF Candidate Full Circle

Started by a former Biogen executive, Stromedix licensed STX-100 from Biogen and developed it into an attractive candidate in an area the reshaped big biotech wants to pursue.

Biogen Inc. bought out privately held Stromedix Inc. Feb. 14, in the process re-acquiring a Phase II-ready candidate for idiopathic pulmonary fibrosis that it had shelved and then out-licensed in 2007.

Biogen, which has been restructuring its portfolio and pipeline since George Scangos took over as CEO about a year ago, will pay $75 million upfront to acquire Stromedix and its...

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