Biogen and TheraPanacea Announce New Collaboration with the
Potential to Advance Digital Health for Personalized Medicine in
Neuroscience
Biogen Inc. (Nasdaq: BIIB) and TheraPanacea today announced
that they have entered into a collaboration focused on multiple
therapeutic areas in neuroscience, to further build on the
companies’ existing relationship. The aim is to leverage machine
learning (ML) and artificial intelligence (AI) analysis to develop
digital health solutions that may improve patient care, accelerate
drug development, and further the understanding of the underlying
pathologies of neurological diseases.
“We believe that neuroscience is at an inflection point for
innovation and breakthrough. Advancements in technology may
increase our ability to understand disease, target treatments, and
manage risk,” said Martin Dubuc, Head of Biogen Digital Health.
“Based on the outcome of our prior work with TheraPanacea and their
success with AI in oncology, we are excited to further this
collaboration. We believe digital health solutions will enable us
to pioneer a new era of personalized medicine built upon a
foundation of accessibility and precision.”
By harnessing ML and AI to draw meaning from medical imaging and
other clinically relevant data sources, there is potential to
improve disease understanding and enable more personalized clinical
trial design. This could result in shortening drug development
cycles, lowering associated costs, and increasing probability of
success. At the same time, these digital health solutions have the
potential to support more informed clinical decisions and could
lead to improved health outcomes for patients.
“We are excited to collaborate with Biogen and combine our ML
and AI solutions with their world-class clinical expertise and
unique datasets in neuroscience,” said Professor Nikos Paragios,
Chief Executive Officer of TheraPanacea and distinguished professor
of mathematics at CentraleSupélec, University of Paris-Saclay.
“Through this collaboration, we aim to scale our artificial
intelligence multi-omics biomarker discovery platform and deploy
clinical solutions that have the potential to deliver better
treatment decisions for patients living with neurological
diseases.”
Under the terms of the agreement, Biogen will invest up to $15
million in exchange for TheraPanacea convertible debt. The
agreement also provides for up to approximately $41 million (based
on current exchange rates) in milestone payments contingent upon
the achievement of certain research and development milestones. In
addition, Biogen gains exclusive rights to TheraPanacea’s
technology in neuroscience. To meet the goals of this
collaboration, TheraPanacea will invest in expanding its existing
operations and workforce in Europe.
About Biogen As pioneers in neuroscience,
Biogen discovers, develops, and delivers worldwide innovative
therapies for people living with serious neurological diseases as
well as related therapeutic adjacencies. One of the world’s first
global biotechnology companies, Biogen was founded in 1978 by
Charles Weissmann, Heinz Schaller, Sir Kenneth Murray, and Nobel
Prize winners Walter Gilbert and Phillip Sharp. Today, Biogen has
the leading portfolio of medicines to treat multiple sclerosis, has
introduced the first approved treatment for spinal muscular
atrophy, and is providing the first and only approved treatment to
address a defining pathology of Alzheimer’s disease. Biogen is also
commercializing biosimilars and focusing on advancing the
industry’s most diversified pipeline in neuroscience that will
transform the standard of care for patients in several areas of
high unmet need.
In 2020, Biogen launched a bold 20-year, $250 million initiative
to address the deeply interrelated issues of climate, health, and
equity. Healthy Climate, Healthy Lives™ aims to eliminate fossil
fuels across the company’s operations, build collaborations with
renowned institutions to advance the science to improve human
health outcomes, and support underserved communities.
We routinely post information that may be important to investors
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Biogen Safe HarborThis news release contains
forward-looking statements, including statements made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995, about the potential impact of machine
learning/artificial intelligence with respect to clinical and
health outcomes; the potential benefits from early identification
of disease; the potential benefits and results that may be achieved
through our collaboration with TheraPanacea; the potential of our
commercial business and pipeline programs; and our strategy and
plans. These statements may be identified by words such as “aim,”
“anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,”
“goal,” “intend,” “may,” “plan,” “possible,” “potential,” “will,”
“would” and other words and terms of similar meaning. You should
not place undue reliance on these statements, or the scientific
data presented.
These statements involve risks and uncertainties that could
cause actual results to differ materially from those reflected in
such statements, including without limitation, the risks of
unexpected costs or delays; the risk of other unexpected hurdles;
failure to protect and enforce our data, intellectual property and
other proprietary rights and uncertainties relating to intellectual
property claims and challenges; regulatory authorities may require
additional information or further studies; third party
collaboration risks; and the direct and indirect impacts of the
ongoing COVID-19 pandemic on our business, results of operations
and financial condition. The foregoing sets forth many, but not
all, of the factors that could cause actual results to differ from
our expectations in any forward-looking statement. Investors should
consider this cautionary statement as well as the risk factors
identified in our most recent annual or quarterly report and in
other reports we have filed with the U.S. Securities and Exchange
Commission. These statements are based on our current beliefs and
expectations and speak only as of the date of this news release. We
do not undertake any obligation to publicly update any
forward-looking statements, whether as a result of new information,
future developments or otherwise.
About TheraPanaceaTheraPanacea is a highly
innovative information technology company devoted to unlocking the
unlimited power of AI-based solutions to drive innovation in
healthcare.
Spinoff of University of Paris-Saclay, TheraPanacea works in
close cooperation with the most prominent healthcare facilities to
combine the power of its proprietary platforms with clinical
domain-knowledge. Our technology is a unique combination of
decisional, domain-constrained, and data-driven artificial
intelligence software equipping clinicians and healthcare
professionals with the most innovative tools to improve treatment
selection, planning, delivery, and outcomes, including biomarker
discovery and patient stratification.
Using TheraPanacea’s AI-powered clinical solutions (ART-Plan™),
healthcare providers experience significant gain in productivity,
higher standardization of care, improvement of clinical workflow
and better treatment outcomes for cancer patients. TheraPanacea’s
AI-powered biomarker discovery platform (ART-Omics™) offers
upstream/downstream innovation to pharmaceutical companies through
shorter development cycles, decreased costs and higher
efficacy.
TheraPanacea’s development benefited from the ecosystems of
University of Paris Saclay and Paris Biotech Santé while being
backed by Therinvest, (Innothera’s independent growth digital
health fund) and competitive fundings from the SATT Paris-Saclay,
the French Ministry of Higher Education and Research, French Public
investment Banque (BPI), the European Research Council (ERC) and
the EIC Accelerator from the European Innovation Council.
MEDIA
CONTACTS:BiogenAshleigh Koss+ 1 908 205
2572public.affairs@biogen.comTheraPanaceaCatherine
Martineau-HuynhCOO mail@therapanacea.eu +33
9 62 52 78 19 |
INVESTOR
CONTACTS:BiogenMike Hencke+1 781 464
2442IR@biogen.com
TheraPanaceaCatherine
Martineau-HuynhCOO mail@therapanacea.eu +33
9 62 52 78 19 |
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