Biogen, Inc. is doubling down in the Parkinson's disease therapeutic area through a new partnership with Denali Therapeutics Inc. in which it will gain co-development and co-commercialization rights to Denali's small molecule inhibitors of leucine-rich repeat kinase 2 (LRRK2) for Parkinson's disease. Biogen has promised investors it would build out its clinical-stage pipeline through deal-making this year as it seeks to diversify the portfolio beyond Tecfidera (dimethyl fumarate) and Spinraza (nusinersen).
The two companies announced the deal on 6 August, with Biogen agreeing to pay Denali $560m up front plus a $465m equity investment from the purchase of 13.3m newly issued shares of Denali common stock at approximately $34.94 per share, giving Biogen 11
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