Biogen has given Alcyone Therapeutics a starring role in its drug delivery strategy, paying $85 million to buy the biotech and take control of an implant for getting medicines into the spinal canal.
The deal is centered on ThecaFlex DRx, a system designed to provide access to cerebrospinal fluid (CSF). Currently, people who receive drugs that are delivered to the CSF, such as Biogen’s Spinraza, undergo lumbar punctures each time at a hospital or outpatient site with expertise in intrathecal administration. An implant such as ThecaFlex DRx could eliminate the risks associated with repeated lumbar punctures.
Back in 2023, Biogen paid Alcyone $10 million for an exclusive license to use the technology in treatments for spinal muscular atrophy and amyotrophic lateral sclerosis (ALS). That deal included up to $41 million in milestones and gave Biogen the option to expand the collaboration to cover other antisense oligonucleotides from its portfolio or pipeline.
With clinical trials of ThecaFlex DRx and nusinersen, the active ingredient in Spinraza, underway, Biogen has struck a takeover to bring the delivery technology in-house. Alcyone employees will join Biogen and, with the Big Biotech’s resources behind them, drive development, manufacturing and commercialization of the delivery technology.
Biogen is aiming to introduce the drug delivery system for Spinraza in early 2028, provided its clinical trials are successful and regulators sign off on the technology. Data from the Spinraza studies will inform Biogen’s plans to expand the use of the system to its broader portfolio of therapies.
The company’s portfolio won’t be swelled by drugs in development at Alcyone. Focused on ThecaFlex DRx, Biogen has agreed to divest Alcyone’s remaining therapeutic assets to a new independent company, Neela Therapeutics.
Alcyone, which raised money in April to advance its pipeline, is running a clinical trial of a gene therapy for CLN3 Batten disease and preclinical tests of a small molecule in ALS.