Biogen Idec strikes $34M option pact with MAKScientific

Boston-based MAKScientific has found a major league collaborator for its work in MS and other neurodegenerative conditions. Biogen Idec ($BIIB) has signed up on a $34 million partnership, offering $3 million of that for any option it chooses to take on the developer's discovery-stage programs, with $31 million up for grabs in milestones on the drugs it snags. "We are very excited to initiate this collaboration with Biogen Idec," said Alexandros Makriyannis, founder of MAKScientific. "We believe it will help advance our proprietary medicinal chemistry to the benefit of MS patients. As a global leader in MS research and development, Biogen Idec is the ideal partner for our discovery and development program." On his company website, Makriyannis touts his work on endocannabinoids, which has implications for drug research in neuropathic and inflammatory pain, obesity, metabolic disorders, neuroprotection and addiction. Release

 

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