Biogen Inc is an American multinational biotechnology company based in Cambridge, Massachusetts, specializing in the discovery, development, and delivery of therapies for the treatment of neurological diseases to patients worldwide.
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Biogen was founded in 1978 in Geneva as Biotechnology Geneva by several prominent biologists, including Kenneth Murray from the University of Edinburgh, Phillip Allen Sharp from the Massachusetts Institute of Technology, Walter Gilbert from Harvard University, Heinz Schaller from the University of Heidelberg, and Charles Weissmann from the University of Zurich (Weissmann contributed the first product interferon alpha).
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In 2003, Biogen merged with San Diego, California-based IDEC Pharmaceuticals and adopted the name Biogen Idec.
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In 2011, Biogen announced that its drug Fampyra received conditional marketing approval.
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Under the conditional approval, Biogen agrees to provide additional data on the long-term benefits and safety of Fampyra.
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On December 10, 2012, Biogen announced its global collaboration agreement with Isis Pharmaceuticals to develop and research antisense drugs to treat neurological and neuromuscular diseases.
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On May 3, 2016, Biogen announced to spin off its hemophilia business, known as Bioverativ.
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In 2016, Biogen released Spinraza, a treatment for Spinal Muscular Atrophy.
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In 2017, Biogen announced that its drug Fampyra converted from conditional marketing authorization to standard marketing approval.
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In September 2020, Biogen Inc made a $10 million deposit in OneUnited Bank to provide more capital to fund home loans and commercial development in Black communities.
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In December 2014, Biogen announced that its Aducanumab drug for Alzheimer's treatment is preparing to go through a late-stage trial of its experimental Alzheimer's disease treatment after the medication dramatically improved cognition and reduced brain plaque levels in early-stage study.
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On March 21, 2019, Biogen announced that the Phase 3 clinical trials of Aducanumab were halted.
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On October 22, 2019, despite two Phase 3 clinical trials being previously halted for futility, Biogen announced its plan to submit for the FDA's approval of Aducanumab.
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In May 2020, Biogen wrapped up construction on a state-of-the-art facility in Solothurn, Switzerland, which will produce the Alzheimer's drug aducanumab by late 2021, alongside its North Carolina manufacturing facility.
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Biogen's shares traded at over $289 per share, and its market capitalization was valued at over US$63 billion in November 2018.
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Biogen ranked 228 on the 2021 Fortune 500 list of the largest United States corporations by revenue.
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Biogen has several candidates in Phase 1 and 2 clinical trials in neurodegenerative and immunological diseases including MS, neuropathic pain, spinal muscular atrophy and lupus nephritis:.
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Biogen has several development agreements in place with Ionis Pharmaceuticals to collaborate to leverage antisense technology in advancing the treatment of neurological disorders.
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In early 2014, Biogen entered into an agreement with Eisai, Inc, to jointly develop and commercialize two of their candidates for Alzheimer's disease, which have the potential to reduce Aß plaques that form in the brains of patients, as well as to slow the formation of new plaques, potentially improving symptoms and suppressing disease progression.
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Biogen has since 2015 an agreement with AGTC to develop gene therapy for several genetic diseases, including X-linked retinoschisis and X-linked Retinitis pigmentosa (XLRP) ophthalmologic diseases.
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In March 2019, Biogen halted Phase 3 trials of Alzheimer's disease drug Aducanumab after "an independent group's analysis show[ed] that the trials were unlikely to 'meet their primary endpoint.
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The reversal came after Biogen said a new analysis of a larger patient pool showed promising results.
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In July 2020, Biogen completed submission of a Biologics license application to the FDA for review, and requested accelerated review.
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Aducanumab was approved using the accelerated approval pathway, and Biogen will be required to conduct a post-approval clinical trial to verify clinical benefit for continued approval.
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In September 2022, Biogen agreed to pay $900 million to the U S federal governments, states, and a whistleblower who accused the company of paying kickbacks to doctors between 2009 and 2014 to increase prescriptions of Avonex, Tysabri, and Tecfidera.
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