Biogen and City Therapeutics Begin Research Collaboration on RNAi-Based Therapies
Wednesday, May 28, 2025
Biogen Inc. and City Therapeutics, a privately owned biopharmaceutical company focused on RNA interference (RNAi) therapies, have entered into a strategic research partnership to develop selected RNAi-based treatments.
As part of the collaboration, City Therapeutics will use its advanced RNAi technology to create a trigger molecule that works in combination with Biogen’s drug delivery system. The initial focus will be on a single target linked to key central nervous system (CNS) disorders. The approach involves enhanced tissue-targeting delivery, which aims to allow systemic administration of RNAi-based medicines.
Biogen will take responsibility for studies required before clinical trials, global clinical development, regulatory submissions, and all commercial activities.
This partnership supports Biogen’s research strategy, which involves combining internal strengths with external scientific innovations. It also marks Biogen’s entry into RNAi as a therapeutic tool, expanding its research and development capabilities.
City Therapeutics is expected to receive $46 million as part of the agreement, which includes a $16 million upfront payment and a $30 million investment in the form of a convertible note. If converted, the note would give Biogen a minority stake in City Therapeutics. The upfront payment will be recorded as an Acquired In-Process Research and Development expense by Biogen in the second quarter of 2025.
If the initial programme achieves key milestones in development and commercialisation, City Therapeutics could receive up to around $1 billion in additional payments, as well as tiered royalties ranging from high single digits to low double digits based on net sales. The agreement also gives Biogen the option to select one more target in the future, subject to an additional payment and target availability.
Source: globenewswire.com
