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Biogen secures option for TMS' acute ischemic stroke therapy

Biogen Inc. has secured an option to acquire Tokyo-based TMS Co. Ltd.'s mid-stage asset TMS-007 for the treatment of acute ischemic stroke.

Acute ischemic stroke is characterized by the sudden loss of blood circulation to an area of the brain resulting in a corresponding loss of neurologic function.

The Cambridge, Mass.-based biopharmaceutical company will pay $4 million upfront and an additional $18 million once it decides to go ahead with the acquisition. TMS will also receive up to $335 million in potential development and commercialization milestones, as well as royalties on the sales of the therapy once commercialized.

The drug is being studied in phase 2 trial in Japan to evaluate its efficacy and safety in acute ischemic stroke patients.

"TMS-007 complements our broader efforts in stroke, including our phase 3 ready asset BIIB093, which targets prevention and treatment of edema in large hemispheric infarction, one of the most severe types of stroke. By growing our acute neurology portfolio, we aim to make new advances in a disease that in the past decades has seen limited therapeutic innovation," Michael Ehlers, Biogen's executive vice president of research and development, said in a statement.

Stroke is the fifth leading cause of death in the U.S. with acute ischemic stroke accounting for approximately 85% of cases, Biogen said in a statement.