Biotechnology company Biogen Idec Inc. said Wednesday it agreed to buy privately held drug maker Fumapharm AG a day after positive results were released on a multiple sclerosis treatment.

Financial terms of the transaction were not disclosed.

Fumapharm and Biogen have been developing BG-12, a multiple sclerosis treatment that was shown in a mid-stage clinical study Tuesday to significantly reduce the number of brain lesions that cause the debilitating condition. Multiple sclerosis is an incurable disease where the immune system attacks the insulation of nerve fibers by mistake.

The Swiss company also makes the psoriasis treatment Fumaderm, which is sold in Germany.

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