Biogen Idec has agreed to acquire five-year-old, privately-held Stromedix Inc for $75 million upfront and up to $487.5 million in milestones. But there is a twist to the buyout, as the research programme at the heart of the startup – which is also behind a candidate for idiopathic pulmonary fibrosis (IPF) - began at Biogen.
Biogen Idec has agreed to acquire five-year-old, privately-held Stromedix Inc for $75 million upfront and up to $487.5 million in milestones. But there is a twist to the buyout, as the research programme at the heart of the startup – which is also behind a candidate for idiopathic pulmonary fibrosis (IPF) - began at Biogen.
Stromedix, based in Cambridge, Massachusetts, has spent the last few years advancing STX-100, a humanised monoclonal antibody against the cell...
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