Biogen cancels MS drug deal, 'due to strategic objectives'
Biogen (Nasdaq: BIIB) has terminated its licensing agreement with Mitsubishi Tanabe Pharma (TYO: 4508) for autoimmune candidate therapy MT-1303 (amiselimod).
The announcement follows last October’s news that the company would discontinue development of the next generation multiple sclerosis (MS) drug.
MT-1303 was licensed from Mitsubishi Tanabe in September 2015 for $60 million in upfront fees, with the potential for an additional $484 million in milestone payments. Biogen was to have had global marketing rights outside of Asia.
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