The neurological disease therapy developer had raised about $57m from investors including Alphabet, Johnson & Johnson and Biogen.
Biopharmaceutical company Alkermes yesterday agreed to acquire US-based neurological disease drug developer Rodin Therapeutics for up to $950m, enabling medical group Johnson & Johnson and internet technology conglomerate Alphabet to exit.
The transaction will consist of $100m in cash upfront and up to $850m in milestone payments related to regulatory and clinical progress and pre-set sales levels.
Rodin is developing treatments for neurodegenerative diseases like Alzheimer’s disease, Lewy body dementia, Huntington’s disease and frontotemporal dementia as well as sickle cell…
