Alkermes has licenced ALKS 8700, a novel, oral, small drug molecule in Phase 3 development for treating multiple sclerosis, to Biogen.
“In Biogen’s hands, we believe that patients will have broader and more rapid access to this important medicine,” said Alkermes CEO Richard Pops.
“Meanwhile, we will focus our growing commercial capabilities on our expanding portfolio of medicines in psychiatry, including addiction, schizophrenia and depression.”
As per the agreement, Biogen will receive an exclusive, worldwide license to commercialise ALKS 8700 and will pay Alkermes a mid-teens royalty on worldwide net sales.
Alkermes will maintain responsibility for regulatory interactions with the US FDA, while Biogen will be responsible for all commercialization activities for ALKS 8700.
A New Drug Application is anticipated for submission in 2018.