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

According to the Securities Times app, Biogen (BIIB.US) announced on Thursday that it has agreed to acquire Alcyone Therapeutics, headquartered in Massachusetts, expanding its portfolio of drug delivery solutions for key products and pipeline candidates. The deal includes an upfront payment of $85 million, as well as additional milestone payments related to the development and regulatory approval of ThecaFlex DRx. This transaction gives Biogen full rights to ThecaFlex DRx.