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Biogen Announces Exercise of Option to Acquire the Investigational Drug TMS-007 for Acute Ischemic Stroke Based on Positive Phase 2a Data
CAMBRIDGE, Mass. and FUCHU-SHI, Tokyo, May 12, 2021 (GLOBE NEWSWIRE) -- Biogen Inc (Nasdaq: BIIB) and TMS Co., Ltd. announced today that Biogen exercised its option to acquire TMS-007, an investigational drug for acute ischemic stroke, from TMS. Biogen’s decision to acquire TMS-007 was based on positive data from a Phase 2a study. The study met its primary safety objective with no incidence of symptomatic intracranial hemorrhage (sICH) and demonstrated positive impacts on both blood vessel reopening in the brain as well as patient functional recovery. Patients were dosed up to 12 hours after the onset of stroke symptoms; average time to treatment was 9.5 hours for patients who received TMS-007 and 9.3 hours for those who received placebo. All patients who received TMS-007 were dosed beyond the time window of approved thrombolytic agents. “We are encouraged by these results and made the decision to acquire TMS-007 based on the totality of the safety, imaging and clinical outcome data from the Phase 2a study,” said Alfred Sandrock, Jr., M.D., Ph.D., head of research and development at Biogen. “It has been almost 25 years since the last thrombolytic agent was approved for acute ischemic stroke and we believe this novel investigational drug may expand the number of eligible patients who could potentially receive thrombolytic therapy and thus have a higher chance of functional independence after stroke.” Approved thrombolytic agents are limited in their use due to their benefit-risk profile in later time windows. According to the American Heart Association1, sICH is the most feared complication of the current thrombolytic therapy, tissue Plasminogen Activator (tPA), which works by dissolving blood clots that block blood flow to the brain. In time windows up to 9 hours after stroke onset, sICH has occurred in patients receiving tPA at rates as high as six percent in controlled studies. The randomized, placebo-controlled, ascending dose Phase 2a study included 90 participants in Japan (n=52 TMS-007, n=38 placebo). The primary endpoint of the study evaluated safety as assessed by the incidence of sICH with worsening of National Institute of Health Stroke Scale of four points or more. There were no events reported in the patients who received TMS-007 compared to an incidence of three percent in the patients who received placebo. In addition, TMS-007 demonstrated a significant improvement on the secondary endpoint of functional independence at 90 days, with 40 percent of patients who received TMS-007 achieving scores of 0 or 1 on the modified Rankin Scale, a measure of independence in daily living, indicating either no residual symptoms or no significant disability, compared to 18 percent of patients who received placebo (P=< 0.05). This was supported by objective angiographic evidence of recanalization in the subset of patients with a visible occlusion receiving TMS-007. The recanalization rate, as measured by magnetic resonance angiography, was 58.3 percent (14 out of 24) for patients who received TMS-007 compared to 26.7 percent (4 out of 15) for patients who received placebo (odds-ratio 4.23; 95 percent confidence interval (0.99, 18.07)). Biogen will make a one-time $18 million payment as part of the acquisition of TMS-007. TMS is eligible to receive up to an additional $335 million in potential post-acquisition development and commercial payments should TMS-007 achieve certain developmental milestones and sales thresholds. TMS is also eligible to receive tiered royalties in the high single digits to sub-teen percentages on annual worldwide net sales. Biogen will be solely responsible for the costs and expenses related to the development, manufacturing and commercialization of TMS-007 following the acquisition. Biogen is currently evaluating the next steps for the clinical development of TMS-007, including plans for global studies. Final data results from the Phase 2a study are expected to be communicated at a future scientific forum. About Acute Ischemic Stroke About TMS-007 About the Phase 2a Study About Biogen We routinely post information that may be important to investors on our website at www.biogen.com. To learn more, please visit www.biogen.com and follow us on social media – Twitter, LinkedIn, Facebook, YouTube. About TMS Co., Ltd. Biogen Safe Harbor Statement These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including, without limitation, uncertainty of success in the development and potential commercialization of TMS-007; unexpected concerns may arise from additional data, analysis or results obtained during clinical studies; actual timing and enrollment of future studies of TMS-007; regulatory authorities may require additional information or further studies, or may fail or refuse to approve or may delay approval of Biogen’s drug candidates, including TMS-007; the occurrence of adverse safety events; the risks of other unexpected hurdles, costs or delays; failure to protect and enforce Biogen’s data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; product liability claims; third party collaboration risks; and the direct and indirect impacts of the ongoing COVID-19 pandemic on Biogen’s business, results of operations and financial condition. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from Biogen’s expectations in any forward-looking statement. Investors should consider this cautionary statement as well as the risk factors identified in Biogen’s most recent annual or quarterly report and in other reports Biogen has filed with the U.S. Securities and Exchange Commission. These statements are based on Biogen’s current beliefs and expectations and speak only as of the date of this news release. Biogen does not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise. Reference:
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