Biogen To Acquire Karyopharm's Investigational Oral SINE Compound KPT-350

(RTTNews) - Karyopharm Therapeutics Inc. (KPTI) announced an agreement for Biogen to acquire Karyopharm's investigational oral SINE compound KPT-350 and other assets for the treatment of certain neurological and neurodegenerative conditions.

Biogen is acquiring KPT-350 and other assets targeting certain neurological conditions, including amyotrophic lateral sclerosis. In exchange, Karyopharm will receive a one-time upfront payment of $10 million from Biogen and is eligible to receive additional payments of up to $207 million based on the achievement by Biogen of future specified development and commercial milestones. Karyopharm will also be eligible to receive tiered royalty payments from Biogen that reach low double digits based on future net sales of specified product candidates, including KPT-350.

KPT-350 is an IND-ready oral SINE compound with a preclinical data package supporting potential efficacy across a number of neurological and inflammatory conditions.