Date: 2017-01-27
Type of information: Termination of an agreement
Compound: MT-1303
Company: Biogen (USA - MA) Mitsubishi Tanabe Pharma (Japan)
Therapeutic area: Autoimmune diseases - Inflammatory diseases - Digestive diseases
Type agreement: licensing
Action mechanism: sphingosine 1-phosphate receptor (S1PR) antagonist. MT-1303 is an oral compound that targets the sphingosine 1-phosphate (S1P) receptor. By inhibiting the receptor function of S1PR on the lymphocyte, this antagonist keeps lymphocytes sequestered in the lymph nodes to prevent them from contributing to autoimmune disorders.c
Disease: multiple sclerosis, ulcerative colitivis, inflammatory bowel disease, Crohn\'s disease
Details:
- • On September 9, 2015, Biogen announced an agreement to exclusively license MT-1303, a late stage experimental medicine with potential in multiple autoimmune indications, from Mitsubishi Tanabe Pharma. Biogen is assessing the potential of MT-1303 in multiple sclerosis, ulcerative colitis, Crohn’s disease, and other autoimmune indications. The compound has completed a successful Phase 2 clinical trial in multiple sclerosis and Biogen is evaluating a rapid development program in this indication. The company will also investigate indications in inflammatory bowel disease. Biogen will initiate a clinical trial in ulcerative colitis and may advance an existing program in Crohn’s disease to Phase 3.
- Under terms of the agreement, Biogen will receive worldwide rights to MT-1303, excluding Asia. Biogen will be responsible for global commercialization and also cover development costs outside of Asian territories. MTPC will receive an upfront payment of $60 million from Biogen and may receive up to $484 million in additional milestone payments for multiple indications and territories. MTPC has the right to participate in Biogen’s global clinical trials and has an option to co-promote non-MS indications in the U.S. The transaction is subject to customary closing conditions, including the expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in the United States, and is expected to close in the fourth calendar quarter of 2015.
Financial terms: Under terms of the agreement, Mitsubishi Pharma will receive an upfront payment of $60 million from Biogen and may receive up to $484 million in additional milestone payments for multiple indications and territories.
Latest news:
- • On January 27, 2017, Mitsubishi Tanabe Pharma and Biogen announced that they reached to termination of the license agreement on MT-1303 discovered and developed by Mitsubishi Tanabe Pharma. The company has been conducting clinical trials for MT-1303 for multiple sclerosis, psoriasis, Crohn’s disease, and systemic lupus erythematosus. In October 2016, Biogen announced Mitsubishi Tanabe Pharma to discontinue its development plan for MT-1303 due to its strategic objectives. Responding to the decision, the companies started discussion and decided to terminate the agreement.
- Under the termination of this agreement, Mitsubishi Tanabe Pharma regains ll development and marketing rights in the world for all indications of MT-1303. The japanese company will continue to develop the product by itself or with a new partner.
Is general: Yes
