Biogen buys Alcyone for US$85M to get ThecaFlex DRx technology

USA— Biogen has acquired Alcyone Therapeutics for US$85 million in a strategic move to enhance its drug delivery capabilities, particularly for treatments targeting the spinal canal.

This acquisition centers on Alcyone’s innovative system, ThecaFlex DRx, which is designed to provide direct access to cerebrospinal fluid (CSF).

Currently, patients who receive medications delivered into the CSF, such as Biogen’s Spinraza, must undergo lumbar punctures at specialized medical facilities each time they are treated.

Lumbar punctures can be uncomfortable and carry certain risks when repeated multiple times.

ThecaFlex DRx, as an implantable device, aims to eliminate the need for these repeated procedures by offering a safer and more convenient delivery method.

Biogen’s relationship with Alcyone began in 2023 when the company paid US$10 million for an exclusive license to use ThecaFlex DRx technology in treatments for spinal muscular atrophy (SMA) and amyotrophic lateral sclerosis (ALS).

This initial deal included milestone payments of up to $41 million and allowed Biogen the option to expand collaboration to other antisense oligonucleotides in its drug portfolio or development pipeline.

Now, with clinical trials underway that combine ThecaFlex DRx with nusinersen, the active ingredient in Spinraza, Biogen has decided to acquire Alcyone outright to bring this delivery technology fully in-house.

As part of the acquisition, Alcyone’s employees will join Biogen, allowing the larger company to accelerate the development, manufacturing, and commercialization of the ThecaFlex DRx system using its greater resources.

Biogen plans to launch the ThecaFlex DRx delivery system for Spinraza by early 2028, assuming clinical trials demonstrate safety and effectiveness and regulatory agencies approve the technology.

Additionally, data collected from these trials will help Biogen explore expanding the use of this delivery system to other therapies within its portfolio.

It is essential to note that Biogen’s drug portfolio will not expand through this acquisition, as the company has chosen to divest from Alcyone’s other therapeutic projects.

These remaining assets will be transferred to a newly independent company called Neela Therapeutics.

Initially, Alcyone Therapeutics raised funding in April to further develop its pipeline, which includes a gene therapy clinical trial for CLN3 Batten disease and preclinical studies of a small molecule treatment for ALS.

 However, Biogen’s strategic focus is solely on the ThecaFlex DRx delivery technology to improve treatment options for patients needing CSF drug administration.

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