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Biogen Announces Intent to Spin Off Its Hemophilia Business
Biogen Inc. has announced that it intends to spin off its hemophilia business as an independent, publicly traded company.
“We expect that the new company will be a leader in discovering, developing, and commercializing innovative therapies for hemophilia, built on remarkable science and a deep understanding of how to continually improve treatment for patients,” said George Scangos, PhD, Biogen’s Chief Executive Officer. “Our expanding hemophilia business continues to perform very well. Eloctate [antihemophilic factor (recombinant), Fc fusion protein] and Alprolix [coagulation factor IX (recombinant), Fc fusion protein] provide meaningful benefits for people living with hemophilia and continue to gain market share. We believe that the best way to realize the full potential of this growing and vital business is to enable it to operate independently with a management team dedicated to providing therapies to people living with hemophilia.”
The new company, to be named at a later date, will focus on the discovery and development of therapies for the treatment of hemophilia, along with Eloctate and Alprolix, indicated for the treatment of hemophilia A and B, respectively. The new company is expected to continue to develop and commercialize Eloctate and Alprolix under Biogen's existing collaboration agreement with Swedish Orphan Biovitrum AB. Eloctate and Alprolix generated combined revenues of $640 million during the 12-month period ended March 31, 2016.
The new company plans to bring longer-acting therapies utilizing the XTEN technology into clinical development in the first half of 2017 and to accelerate the development of bispecific antibodies and hemophilia-related gene therapy programs. The Biogen press release says the new company also plans to conduct additional studies to confirm early data that suggest Eloctate could rapidly induce immune tolerance in hemophilia patients who develop inhibitors.
Source: Biogen; May 3, 2016.