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Biogen Spending $1.5 Billion Upfront to Collaborate with Sage Therapeutics | Aspen Xchange
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Biogen is adding two experimental medicines to its arsenal through a collaboration with a Sage Therapeutics, that could be worth more than $3 billion. The deal, which the companies expect to close by January, would give Biogen rights to a treatment for multiple types of depression, called SAGE-217 or zuranolone, as well as a treatment for essential tremor and other neurological disorders, called SAGE-324. Per the terms of the agreement, Sage will receive over $1.5 billion to start, including an $875 million payment and a $650 million equity investment that gives Biogen a 10.7% stake in the company. Sage may later take home up to $1.6 billion more from its partner, provided the two programs hit certain milestones.
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