05:13 AM EDT, 10/30/2024 (MT Newswires) -- Biogen (BIIB) and Neomorph said Tuesday that they agreed on a research collaboration to discover and develop molecular glue degraders for priority targets in Alzheimer's, rare neurological, and immunological diseases.

The partners plan to use Neomorph's proprietary molecular glue discovery platform in accelerating the identification and validation of small molecule molecular glue degrades, with Biogen to advance the clinical candidates for further development and potential commercialization.

As part of the deal, Neomorph will receive an upfront payment and be eligible for milestone payments, potentially reaching a total of $1.45 billion, according to the statement. Biogen will reimburse Neomorph for certain research development costs, the companies added.

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