Biogen and City Therapeutics Announce Strategic Research Collaboration to Develop Select Novel RNAi-based Therapies
Biogen (NASDAQ: BIIB) and City Therapeutics have announced a strategic collaboration to develop novel RNA interference (RNAi) therapies. The partnership combines City Therapeutics' next-generation RNAi engineering technologies with Biogen's drug development expertise. The initial focus will be on a single target for central nervous system diseases, with Biogen managing IND-enabling studies, clinical development, and commercialization.
Under the agreement, City Therapeutics will receive $46 million in total payments, including a $16 million upfront payment and a $30 million investment via convertible note. The company could earn up to $1 billion in potential milestone payments plus tiered royalties ranging from high single-digit to low double-digit percentages. Biogen has an option to select one additional target for the collaboration.
Biogen (NASDAQ: BIIB) e City Therapeutics hanno annunciato una collaborazione strategica per sviluppare nuove terapie basate sull'interferenza dell'RNA (RNAi). La partnership unisce le tecnologie di ingegneria RNAi di nuova generazione di City Therapeutics con l'esperienza di Biogen nello sviluppo farmaceutico. L'attenzione iniziale sarà rivolta a un singolo obiettivo per le malattie del sistema nervoso centrale, con Biogen che gestirà gli studi per l'autorizzazione IND, lo sviluppo clinico e la commercializzazione.
Secondo l'accordo, City Therapeutics riceverà un totale di 46 milioni di dollari, comprensivi di un pagamento iniziale di 16 milioni di dollari e un investimento di 30 milioni di dollari tramite una nota convertibile. L'azienda potrà guadagnare fino a 1 miliardo di dollari in potenziali pagamenti legati a traguardi raggiunti, oltre a royalties a scaglioni che vanno da percentuali alte a una cifra singola fino a percentuali basse a due cifre. Biogen ha inoltre l'opzione di selezionare un ulteriore obiettivo per la collaborazione.
Biogen (NASDAQ: BIIB) y City Therapeutics han anunciado una colaboración estratégica para desarrollar nuevas terapias de interferencia de ARN (RNAi). La alianza combina las tecnologías de ingeniería RNAi de próxima generación de City Therapeutics con la experiencia de Biogen en desarrollo de fármacos. El enfoque inicial será un único objetivo para enfermedades del sistema nervioso central, con Biogen a cargo de los estudios para la habilitación IND, el desarrollo clínico y la comercialización.
Según el acuerdo, City Therapeutics recibirá un total de 46 millones de dólares, que incluyen un pago inicial de 16 millones de dólares y una inversión de 30 millones de dólares mediante una nota convertible. La compañía podría obtener hasta 1.000 millones de dólares en pagos por hitos potenciales, además de regalías escalonadas que van desde un porcentaje alto de un solo dígito hasta un porcentaje bajo de dos dígitos. Biogen tiene la opción de seleccionar un objetivo adicional para la colaboración.
Biogen (NASDAQ: BIIB)과 City Therapeutics가 새로운 RNA 간섭(RNAi) 치료제를 개발하기 위한 전략적 협력을 발표했습니다. 이번 파트너십은 City Therapeutics의 차세대 RNAi 기술과 Biogen의 약물 개발 전문성을 결합합니다. 초기에는 중추신경계 질환을 위한 단일 타깃에 집중하며, Biogen이 IND 승인 연구, 임상 개발 및 상업화를 담당합니다.
계약에 따라 City Therapeutics는 총 4,600만 달러를 받게 되며, 이에는 1,600만 달러의 선지급금과 3,000만 달러의 전환사채 투자금이 포함됩니다. 회사는 최대 10억 달러의 잠재적 마일스톤 지급금과 고단위 한 자리수에서 저단위 두 자리수까지 단계별 로열티를 받을 수 있습니다. Biogen은 협력 대상 타깃을 한 개 더 선택할 수 있는 옵션도 보유하고 있습니다.
Biogen (NASDAQ : BIIB) et City Therapeutics ont annoncé une collaboration stratégique pour développer de nouvelles thérapies par interférence ARN (ARNi). Ce partenariat combine les technologies de pointe en ingénierie ARNi de City Therapeutics avec l'expertise de Biogen en développement pharmaceutique. L'objectif initial portera sur une cible unique pour les maladies du système nerveux central, Biogen prenant en charge les études IND, le développement clinique et la commercialisation.
Dans le cadre de cet accord, City Therapeutics recevra un total de 46 millions de dollars, comprenant un paiement initial de 16 millions de dollars et un investissement de 30 millions de dollars via une note convertible. La société pourrait percevoir jusqu'à 1 milliard de dollars en paiements liés à des jalons potentiels, ainsi que des redevances échelonnées allant de pourcentages élevés à un chiffre à des pourcentages bas à deux chiffres. Biogen dispose également d'une option pour sélectionner une cible supplémentaire dans le cadre de cette collaboration.
Biogen (NASDAQ: BIIB) und City Therapeutics haben eine strategische Zusammenarbeit zur Entwicklung neuartiger RNA-Interferenz (RNAi)-Therapien angekündigt. Die Partnerschaft vereint die Next-Generation RNAi-Technologien von City Therapeutics mit Biogens Expertise in der Arzneimittelentwicklung. Der erste Fokus liegt auf einem einzelnen Ziel für Erkrankungen des zentralen Nervensystems, wobei Biogen die IND-fähigen Studien, die klinische Entwicklung und die Vermarktung übernimmt.
Im Rahmen der Vereinbarung erhält City Therapeutics insgesamt 46 Millionen US-Dollar, darunter eine Vorauszahlung von 16 Millionen US-Dollar sowie eine Investition von 30 Millionen US-Dollar in Form einer wandelbaren Schuldverschreibung. Das Unternehmen kann bis zu 1 Milliarde US-Dollar an potenziellen Meilensteinzahlungen sowie gestaffelte Lizenzgebühren von hohen einstelligen bis niedrigen zweistelligen Prozentbeträgen verdienen. Biogen hat die Option, ein weiteres Ziel für die Zusammenarbeit auszuwählen.
- Potential milestone payments of up to $1 billion plus tiered royalties
- Strategic expansion into RNAi-based therapeutic approach
- Option to select an additional target for collaboration
- Combines Biogen's development expertise with City Therapeutics' RNAi technology
- $16 million upfront payment to be recorded as R&D expense in Q2 2025
- Initial focus limited to a single target only
- Success dependent on unproven next-generation RNAi technology
Insights
Biogen's $46M deal with City Therapeutics expands its R&D capabilities into RNAi therapeutics, with $1B potential milestone payments.
Biogen's
The collaboration's architecture is particularly noteworthy—initially focusing on a single CNS disease target with potential expansion to a second target. The
From a strategic perspective, this partnership exemplifies Biogen's shift toward a balanced R&D approach that leverages external innovation alongside internal capabilities. For Biogen, acquiring RNAi capability addresses a technological gap in its development toolkit without building the technology infrastructure from scratch—a capital-efficient approach to pipeline diversification.
City Therapeutics gains validation for its next-generation RNAi platform plus immediate capital, while Biogen's expertise in clinical development and commercialization significantly de-risks the pathway to market. The focus on CNS applications with systemic administration capability addresses a significant technical challenge in RNAi therapy delivery across the blood-brain barrier, potentially unlocking considerable value if successful.
Collaboration leverages City Therapeutics’ next-generation RNAi engineering technologies and Biogen’s extensive drug development expertise
CAMBRIDGE, Mass., May 27, 2025 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) and City Therapeutics, Inc., a privately held biopharmaceutical company leading the future of RNA interference (RNAi)-based medicine, today announced a strategic collaboration to develop select novel RNAi therapies.
Through the collaboration, City Therapeutics will leverage its next-generation RNAi engineering technologies to develop an RNAi trigger molecule combined with proprietary drug delivery technology from Biogen. The collaboration will initially focus on a single target that mediates key central nervous system diseases, utilizing tissue enhanced delivery technologies with the aim of allowing for systemic administration of medicines. Biogen will be responsible for IND-enabling studies and global clinical development along with any regulatory submissions and all activities related to commercialization.
"This collaboration underscores Biogen’s new strategic research approach of balancing our differentiated internal capabilities with external investments in cutting-edge science. With this effort, we are further expanding the modalities in our R&D toolbox to potentially reach our targets of interest more precisely by adding an RNAi-based approach," said Jane Grogan, Ph.D., Head of Research at Biogen. "We are excited to collaborate with City Therapeutics and their world-class scientists on key programs, as well as to invest in their company as part of this innovative effort to develop new approaches to treating disease.”
“Partnering with Biogen represents a meaningful milestone in our mission to expand the therapeutic reach of RNAi, as we pioneer the next generation of RNAi technology for breakthrough medicines,” said Andy Orth, Chief Executive Officer of City Therapeutics. “By combining our novel RNAi platform with Biogen’s industry-leading capabilities in global drug development, we aim to accelerate the advancement of therapies for serious diseases. We look forward to demonstrating the potential of our RNAi platform in addressing this area of significant unmet need.”
Under the terms of the agreement, City Therapeutics will receive a total of
About Biogen
Founded in 1978, Biogen is a leading biotechnology company that pioneers innovative science to deliver new medicines to transform patients’ lives and to create value for shareholders and our communities. We apply deep understanding of human biology and leverage different modalities to advance first-in-class treatments or therapies that deliver superior outcomes. Our approach is to take bold risks, balanced with return on investment to deliver long-term growth.
We routinely post information that may be important to investors on our website at www.biogen.com. Follow us on social media – Facebook, LinkedIn, X, YouTube.
About City Therapeutics
City Therapeutics is a biopharmaceutical company harnessing next-generation engineering of RNAi trigger molecules to improve and expand the reach of RNAi-based medicines. The company is building a pipeline of innovative RNAi therapeutics to make a significant impact for patients across multiple therapeutic areas. Co-founded by pioneering executives and scientists in RNAi, City Therapeutics is based in Cambridge, MA, and has raised
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| Media Contacts: | ||
| Biogen Jack Cox Head of Media Relations public.affairs@biogen.com 781-464-3260 | City Therapeutics Katie Engleman 1AB katie@1abmedia.com | |
| Investor Contacts: | ||
| Biogen Tim Power Head of Investor Relations IR@biogen.com 781-464-2442 | City Therapeutics Stephanie Ascher Precision AQ Stephanie.Ascher@precisionaq.com | |
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