Shares in biotech company Biogen (BIIB) were healthier today after striking an initial $85 million deal to buy U.S. peer Alcyone Therapeutics.
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Neurological Need
As part of an existing partnership with Alcyone Therapeutics, the companies aim to accelerate the development of the ThecaFlex DRx device. This is an implantable catheter-like device being investigated for the delivery of antisense oligonucleotides (ASOs). These are synthetic DNA-like molecules to help treat people with neurological disorders impacting the brain, spinal cord or nerves.
It would be an alternative way to treat patients who at present have to suffer repeated lumbur punctures, which are injections into the lower back, in order to get the necessary drugs into their system.
The system is presently being tested in people with spinal muscular atrophy. Biogen plans to introduce the new drug delivery system in early 2028 if the tests go well.
Biogen said it would drive end-to-end development, manufacturing and commercialization of the ThecaFlex DRx following the deal. It will also hope to boost its share price following a turbulent year – see above.
Patient Pioneers
“For nearly three decades, Biogen has pioneered ASO development, and we are committed to continuing to improve patient experience and ease of administration,” said Nicole Murphy, Head of Pharmaceutical Operations and Technology at Biogen. “We believe the acquisition of Alcyone Therapeutics offers a strategic opportunity to both expand the company’s capabilities and enhance the value proposition of our medicines by offering a meaningful, patient-centered solution.”
The Biogen share price was also lifted today after the European Commission granted marketing authorization for its Zurzuvae (zuranolone) medicine to treat post-partum depression (PPD) in adults following childbirth.
Zurzuvae was approved and launched in the USA at end 2023 and generated sales of $74.1 million in second-quarter 2025, up 171% year-on-year.
Is BIIB a Good Stock to Buy Now?
On TipRanks, BIIB has a Moderate Buy consensus based on 11 Buy and 14 Hold ratings. Its highest price target is $224. BIIB stock’s consensus price target is $166, implying a 13.98% upside.
