Bio­gen toss­es in an ex­tra $50M for a big­ger slice of the roy­al­ties for its PhI­II Alzheimer’s drug ad­u­canum­ab

Bio­gen $BI­IB is once again sig­nal­ing its con­fi­dence in the late-stage suc­cess of its high-risk Alzheimer’s drug ad­u­canum­ab this morn­ing, hand­ing out $50 mil­lion to its part­ners at Neurim­mune in ex­change for a 5% cut in the roy­al­ty rates it will be due in the event the drug hits the mar­ket.

If they’re right, Bio­gen’s deal was a steal. And if they’re wrong, no one is like­ly to grouse about an ex­tra $50 mil­lion loss against the back­drop of an epic fail tak­ing down the one late-stage Alzheimer’s drug that can still muster en­thu­si­asm.

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