Biogen Idec, MAKScientific In MS Pact

Biogen Idec and MAKScientific, LLC have entered into an exclusive, worldwide option and collaboration agreement to develop and commercialize drug candidates for the treatment of multiple sclerosis (MS) and other neurodegenerative diseases.

Biogen Idec has an option for an exclusive license to select MAKScientific’s discovery drug candidates for all indications worldwide. If Biogen exercises this option, MAKScientific will be eligible to receive an exercise fee of as much as $3 million and as much as an additional $31 million in milestone payments associated with the clinical development. MAKScientific will also be eligible to receive royalties on sales.

“We are very excited to initiate this collaboration with Biogen Idec,” said Alexandros Makriyannis, Ph.D., 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.”