Biogen is acquiring a novel CNS-penetrant small molecule inhibitor of casein kinase 1 (CK1) from Pfizer with applications in Alzheimer’s and Parkinson’s disease.
Biogen plans to develop the Phase 1 PF-05251749 for the treatment of Sundowning in Alzheimer’s disease (AD) and Irregular Sleep Wake Rhythm Disorder (ISWRD) in Parkinson’s disease (PD).
The purchase will include an upfront payment of $75 million with up to $635 million in potential additional development and commercialisation milestone payments, as well as tiered royalties in the high single digits to sub-teens.
“This asset is highly complementary to our existing pipeline of potential disease-modifying therapies in Alzheimer’s and Parkinson’s diseases,” said Alfred Sandrock Jr., Executive Vice President of R&D and Chief Medical Officer at Biogen.
“Many patients with Alzheimer’s and Parkinson’s suffer from debilitating sleep disorders and agitation, and we believe that the regulation of the circadian rhythm may hold promise in addressing these challenging behavioural and neurological symptoms.”
PF-05251749 has previously demonstrated an acceptable safety profile and proof of mechanism in a Phase 1a clinical study. Biogen aims to initiate a Phase 1b study in Q4 2020.
Biogen expects the transaction to close in the Q1 2020.