Biogen Licenses MTPC’s Phase 2 Molecule for Autoimmune Diseases
News Sep 11, 2015
Biogen has announced an agreement to exclusively license MT-1303, a late stage experimental medicine with potential in multiple autoimmune indications, from Mitsubishi Tanabe Pharma Corporation (MTPC) (TSE: 4508). MT-1303 is an oral compound that targets the sphingosine 1-phosphate (S1P) receptor.
Biogen is assessing the potential of MT-1303 in multiple sclerosis (MS), ulcerative colitis, Crohn’s disease, and other autoimmune indications. The compound has completed a successful Phase 2 clinical trial in MS 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.
“Based on compelling efficacy and safety data, we believe that MT-1303 could be a best-in-class S1P modulator,” said Alfred Sandrock, M.D., Ph.D., group senior vice president and chief medical officer at Biogen. “There is a great need for effective oral therapies for the treatment of inflammatory bowel disease and other autoimmune indications, and we are excited to strengthen our late-stage pipeline with this next-generation oral investigational therapy.”
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.
The cholesterol-lowering drugs called statins have demonstrated substantial benefits in reducing the risk of heart attacks and strokes caused by blood clots (ischemic strokes) in at-risk patients. Since statins are associated with a low risk of side effects, the benefits of taking them outweigh the risks, according to a scientific statement from the American Heart Association that reviewed multiple studies evaluating the safety and potential side effects of these drugs.READ MORE
Global Experts Meeting on Frontiers in Biosimilars and Biologics Congress
Oct 24 - Oct 26, 2019