Biogen plans to invest $15 million in BioMotiv LLC over five years

Story excerpt provided by Crain’s Cleveland Business.

Written by Chuck Soder.

Biogen, a large pharmaceutical company, plans to invest $15 million in BioMotiv LLC of Shaker Heights over five years. In exchange, Biogen will receive exclusive rights to any neuroscience-related treatments that the local company develops. Biogen — which generated about $10 billion in revenue in 2014 — specializes in developing therapies for “serious neurological, autoimmune and hematologic disorders,” according to its website.

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Originally published September 21, 2015.