Biogen shortens name, raises hopes

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Biogen Idec, which was heralded last week for results of an Alzheimer's drug trial, has shortened its name and chosen a new logo. It will now be known as Biogen (Nasdag: BIIB).

The company merged more than a decade ago with Idec Pharmaceuticals in a $6.8 billion deal.

Last week the company presented results of PRIME, a Phase 1b study of aducanumab, and said it showed a positive results for those with prodromal or mild Alzheimer's disease.

The treatment provokes a dose- and time-dependent reduction of amyloid plaque in the brain.

“This is the first time an investigational drug for Alzheimer's disease has demonstrated a statistically significant reduction on amyloid plaque as well as a statistically significant slowing of clinical impairment in patients with prodromal or mild disease,” said Alfred Sandrock, M.D., Ph.D., group senior vice president and chief medical officer at Biogen Idec. “Based on these results, we are advancing the aducanumab clinical program to Phase 3 with plans to initiate enrollment later this year.”