Issue Date: February 20, 2012
Biogen Buys Stromedix
In a deal worth up to $562.5 million, Biogen Idec is acquiring privately held Stromedix. Biogen gains STX-100, a monoclonal antibody poised to enter Phase II trials as an idiopathic pulmonary fibrosis treatment. Stromedix investors will receive $75 million up front and up to $487.5 million more contingent on reaching certain milestones for STX-100. Stromedix was founded in 2005 by Biogen’s former head of research, Michael Gilman. The firm subsequently licensed STX-100 from Biogen, completed Phase I trials, and developed biomarkers to facilitate patient selection for future studies.
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