A pharma alliances is created between Biogen Idec and Proteostasis Therapeutics for Alzheimer's treatment. Proteostasis Therapeutics has entered into a worldwide pharma alliances with Biogen Idec to research and develop therapeutic candidates based on the inhibition of Usp14.
This collaboration combines Proteostasis Therapeutics’ proprietary scientific platform and preclinical work on protein degradation with Biogen Idec’s neurodegenerative disease research and clinical development capabilities.
Preclinical research has shown that the inhibition of Usp14 modulates proteasome activity and increases the degradation rate of aggregation-prone proteins.
Proteostasis will receive an initial upfront payment from Biogen Idec, along with an equity investment.
It is eligible for research funding support and future development and commercial milestones that could result in total payments of up to $200 million, as well as tiered royalties.
The companies will conduct preclinical research to identify lead compounds for clinical development.
At specified points in development, Proteostasis will have the option to receive potential milestones or opt in for global co-development and U.S. co-commercialization rights.
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