Neurimmune Raises $150 Million to Finance its Growth Strategy
Neurimmune announced today that it has raised $150 million to fund its growth strategy. The financing will accelerate the development of Neurimmune’s human antibody pipeline through clinical proof of concept.
Neurimmune receives a one-time $150 million payment from its collaboration partner Biogen in exchange for a 15% reduction in the previously negotiated royalty rates on aducanumab. Moreover, Neurimmune will receive an additional one-time $50 million payment subject to Biogen’s exercise of an option for an additional 5% royalty buy-down.
Neurimmune licensed the worldwide rights to aducanumab to Biogen in 2007 and collaborates with Biogen on Alzheimer’s disease and other neurodegenerative disorders.