Biogen And City Therapeutics Launch RNAi Partnership Targeting CNS Diseases

Biogen Inc. and City Therapeutics, Inc., a private biotech firm advancing RNA interference (RNAi) therapies, have announced a strategic partnership to develop next-generation RNAi treatments. The collaboration will initially focus on one central nervous system (CNS) disease target, combining City Therapeutics’ RNAi engineering platform with Biogen’s proprietary drug delivery technologies to enable systemic administration.

"This collaboration underscores Biogen’s new strategic research approach of balancing our differentiated internal capabilities with external investments in cutting-edge science. With this effort, we are further expanding the modalities in our R&D toolbox to potentially reach our targets of interest more precisely by adding an RNAi-based approach. We are excited to collaborate with City Therapeutics and their world-class scientists on key programs and invest in their company as part of this innovative effort to develop new approaches to treating disease," said Jane Grogan, Ph.D., Head of Research at Biogen. 

Under the agreement, City Therapeutics will receive $46 million upfront, including $16 million in cash and a $30 million convertible note investment from Biogen, which could convert into a minority equity stake. Biogen will lead IND-enabling studies, clinical development, regulatory submissions, and eventual program commercialisation.

“ Partnering with Biogen represents a meaningful milestone in our mission to expand the therapeutic reach of RNAi, as we pioneer the next generation of RNAi technology for breakthrough medicines. By combining our novel RNAi platform with Biogen’s industry-leading capabilities in global drug development, we aim to accelerate the advancement of therapies for serious diseases. We look forward to demonstrating the potential of our RNAi platform in addressing this area of significant unmet need,” said Andy Orth, Chief Executive Officer of City Therapeutics. 

If the collaboration meets key development and commercial milestones, City Therapeutics may earn up to $1 billion in milestone payments, plus tiered royalties ranging from high single to low double digits. Biogen can also pursue one additional target, contingent on further payments and target availability.