Forward Pharma

Forward Pharma A/S is a Danish biopharmaceutical company that began developing proprietary formulations of DMF for the treatment of inflammatory and neurological indications in 2005. The company granted Biogen an irrevocable license to all of its intellectual property through a licensing agreement, and in February 2017, received a non-refundable cash payment of $1.25 billion from Biogen. In September 2017, the company returned €917.7 million to shareholders through a capital reduction. Forward Pharma has the opportunity to receive royalties on Biogen’s net sales outside the United States of Tecfidera® or other DMF products for the treatment of multiple sclerosis, contingent upon a favorable outcome in the '355 patent opposition proceedings in Europe, including any appeals thereof.