Biogen (BIIB.US) plans to acquire Alcyone to expand drug delivery solutions.

Biogen (BIIB.US) announced on Thursday that it has agreed to acquire Alcyone Therapeutics, based in Massachusetts, to expand its portfolio of drug delivery solutions for key products and pipeline candidates. The transaction includes an upfront payment of $85 million, as well as additional milestone payments related to the development and regulatory approval of ThecaFlex DRx. This deal gives Biogen full rights to ThecaFlex DRx. Biogen will drive the end-to-end development and commercialization of ThecaFlex DRx, an experimental implantable device for intrathecal delivery of antisense oligonucleotides (ASOs). ThecaFlex DRx is expected to offer a new convenient dosing option for patients with neurological disorders. Following the completion of the transaction, Alcyone's employees joining Biogen will be integrated into the product delivery solutions team, enhancing Biogen's capabilities in drug-device combination products. Currently, the ThecaFlex DRx system is being tested in conjunction with Spinraza (nusinersen) for patients with spinal muscular atrophy, providing important guidance for the development of Biogen's future experimental therapies.