Miragen’s deal with Servier has potential of $1 billion

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

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

Miragen could receive $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,´ said William S. Marshall, Miragen’s chief executive and president who co-founded the company with Eric N. Olson, the company’s chief scientific adviser.

“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 oaf 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.

Marshall was one of the scientific founders of Lafayette-based Dharmacon Inc., which was acquired by Fisher Scientific International.

Marshall also served in many capacities at Amgen Inc., participating in a wide variety of therapeutic development approaches throughout the drug discovery process leading to the development of clinical candidates.

Olson was a co-founder and scientific adviser of Westminster-based Myogen Inc., a biotechnology company based on technology developed at the University of Colorado focusing on therapies for heart muscle disease, acquired by Gilead Pharmaceuticals in 2006.

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