Biogen Acquires Remedy Pharmaceuticals’ Late-Stage Drug CIRARA™

NEW YORK–(BUSINESS WIRE)– Remedy Pharmaceuticals, a privately-held pharmaceutical company focused
on bringing life-saving treatments to people affected by central nervous
system diseases and injuries, today announced that Biogen
(NASDAQ:BIIB) completed an asset purchase of its Phase 3 candidate,
CIRARA. Biogen made an upfront payment of $120 million to Remedy and may
also pay additional milestone payments and royalties.

The target indication for CIRARA is large hemispheric infarction, a
severe form of ischemic stroke where brain swelling often leads to
disproportionately large share of stroke-related morbidity and
mortality. The U.S. Food and Drug Administration (FDA) recently granted
CIRARA Orphan drug designation for severe cerebral edema in patients
with acute ischemic stroke. The FDA has also granted CIRARA Fast Track
designation.

“We’ve spent over a decade on this mission to bring CIRARA to this
desperately-in-need patient population,” notes David Geliebter,
Executive Chairman, Remedy Pharmaceuticals. « Biogen’s expertise in CNS
brings us closer to helping people afflicted with central nervous system
related edema to not only survive, but live life to the fullest.”

“While one chapter closes for us, another exciting one begins for
Remedy,” says Sven Jacobson, CEO of Remedy Pharmaceuticals, “As we seek
out other innovative life science opportunities that play to our core
strengths and values.”

About Biogen

Through cutting-edge science and medicine, Biogen discovers, develops
and delivers worldwide innovative therapies for people living with
serious neurological and neurodegenerative diseases. Founded in 1978,
Biogen is a pioneer in biotechnology, and today the company has the
leading portfolio of medicines to treat multiple sclerosis; has
introduced the first and only approved treatment for spinal muscular
atrophy; and is at the forefront of neurology research for conditions
including Alzheimer’s disease, Parkinson’s disease and amyotrophic
lateral sclerosis. Biogen also manufactures and commercializes
biosimilars of advanced biologics.

About Remedy Pharmaceuticals

Founded in 2005, Remedy Pharmaceuticals, Inc. is a privately-held
pharmaceutical company focused on improve the lives of patients with
CNS-related illnesses and injuries through cutting-edge science and
unconventional thinking. Remedy is based in New York City.

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