Massachusetts-based Biogen announced it is buying Karyopharm’s experimental brain drug in a deal worth up to $217 million.
Biogen will pay $10 million upfront to Karyopharm for the XPO1 inhibitor KPT-350, with the remaining $207 million in future milestone payments dependent on clinical trial results. KPT-350 is a novel therapeutic candidate that works by inhibiting XPO1, with the goal of reducing inflammation and neurotoxicity, along with increasing neuroprotective responses.
While the buy is a good fit for Biogen's pipeline, investors have been anticipating a much larger deal in order to ensure Biogen's continued growth.
Biogen announced the acquisition within its Q4 report.