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Biogen Strikes Up To $2B Deal For Parkinson’s Drug Collab

Tiomkin Law Offices of Elliott Tiomkin > Legal News  > Biogen Strikes Up To $2B Deal For Parkinson’s Drug Collab

Biogen Strikes Up To $2B Deal For Parkinson’s Drug Collab

Law360 (August 6, 2020, 4:52 PM EDT) — Biogen will buy a stake in fellow pharmaceutical company Denali as part of a collaboration on a potential treatment for Parkinson’s disease, in a transaction worth up to $2 billion, the companies said Thursday.

Under the deal, Cambridge, Massachusetts-based Biogen Inc. will make an upfront payment of $560 million to South San Francisco, California-headquartered Denali Therapeutics Inc., as well as buy 13.3 million of its shares at almost $35 each, an equity investment of $465 million that represents an 11.2% stake in Denali.

Additionally, if the drug hits certain development and commercial benchmarks, Denali is eligible for more than $1.1 billion…

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