Acorda Therapeutics Inc. in Hawthorne entered an exclusive collaboration and license agreement with Biogen Idec in Cambridge, Mass., to develop and sell multiple sclerosis (MS) therapy drug Fampridine-SR in outside markets.
Acorda, a biotechnology company developing therapies for spinal cord injury, multiple sclerosis and related nervous system disorders, markets Zanaflex Capsules, a short-acting drug for the management of spasticity.
“Biogen Idec has outstanding capabilities in commercializing neurology and oncology products and is known globally for its reputation as an innovative leader in the field of multiple sclerosis,” said Dr. Ron Cohen, president and CEO of Acorda. ?“We are delighted to be working with them to make Fampridine-SR, if approved, available to people living with MS in Europe, Canada, Australia and other areas of the world.”
Through the agreement, Acorda will receive a payment up front of $110 million and additional payments of up to $400 million.
“As we look to expand our global MS leadership, we believe Fampridine-SR has the potential to become an important oral therapy that may help improve the walking ability of a wide range of patients ”“ including patients with relapsing forms of MS as well as primary and secondary progressive MS,” said Jim Mullen, president and CEO of Biogen Idec in a statement.
Acorda last month announced the eligibility of Fampridine-SR for centralized review in Europe through the European Medicines Agency (EMEA). In the U.S., Acorda will continue developing and commercializing the drug independently.
A new drug application for Fampridine-SR is being reviewed by the U.S. Food and Drug Administration.
