Miragen signs potential $1 billion deal

BOULDER – Miragen Therapeutics Inc., a Boulder-based biopharmaceutical company developing treatments for cardiovascular and muscle diseases, announced Tuesday it has signed a research, development and commercialization deal with a French pharmaceutical company that could be worth about $1 billion for Miragen.

The agreement with Les Laboratoires Servier will give Miragen up to $45 million up front in exchange for worldwide commercialization rights, excluding the U.S. and Japan, according to a press release from Miragen.

Miragen could get $352 million if it hits commercial and clinical milestones, and when clinical development support is factored in the value to Miragen is about $1 billion, according to the release.

“Our agreement with Servier not only provides validation of our lead programs in cardiac disease, but further underscores the potential of our innovative technology platform to deliver compelling drug candidates,” Miragen chief executive and president William S. Marshall said in the release.

“We are delighted to partner with Servier, whose demonstrated leadership and expertise in the development of cardiovascular drugs are truly impressive.  By combining our strengths, we hope to translate the potential of microRNA targeting into life-changing medicines for patients in need,” Marshall said.

Miragen’s research focuses on microRNAs, which are small bits of genetic code that control gene expression. Research indicates they may be involved in the development of diseases.

The partnership will give Servier rights to two of Miragen’s leading projects and the option to market a third, yet-to-be identified project.

Miragen and Servier will collaborate on the research and development effort, while Servier alone will be responsible for all costs associated with the global development, regulatory approval and commercialization of the three product candidates worldwide, excluding the U.S. and Japanese markets.

Miragen retains all rights in the U.S. and Japan, and the option to co-sponsor any Phase III programs in the event that Miragen, alone or together with a partner, should seek marketing approvals for any of the targets in the U.S. and Japan, the announcement said.

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