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InnoCare’s $937 Million MS Deal Falls Apart as Biogen Returns Rights

publication date: Feb 21, 2023

The $937 million agreement between Beijing InnoCare (SHA: 688428) and Biogen for an MS drug has been unwound just a year and a half after it was announced. Biogen returned the ex-China rights to InnoCare for orelabrutinib, a BTK inhibitor, as a therapy for MS, saying Biogen “has lost its way” and needs to focus on candidates that offer a better chance of increasing the company’s revenues. In late 2021, Biogen paid $125 million upfront for the BTK rights. Orelabrutinib is a highly selective BTK inhibitor developed by InnoCare to treat cancers and autoimmune diseases. More details....

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