Biogen closes out its ophthalmology R&D work, dumping off a C3 therapy
A few weeks after South San Francisco-based Catalyst Biosciences brought in some advisers to help suss out their “strategic opportunities,” the crew at the struggling penny stock player now has one more asset to play with.
Biogen has dumped off the rights it acquired for $15 million in cash and a few hundred million in milestones for CB 2782-PEG, a C3-degrader for the treatment of dry AMD. It had been viewed as a possible rival to Apellis as it looked to take on some heavyweight competition, but there’s no word why Biogen — largely focused on CNS diseases — wanted out.
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