UPDATE: Biogen enters up to $544 million licensing deal with Mitsubishi Tanabe

9 September 2015

US biotech major Biogen (Nasdaq: BIIB) has entered into an agreement to exclusively license MT-1303, a late stage experimental medicine with potential in multiple autoimmune indications, from Japan’s Mitsubishi Tanabe Pharma Corp (MTPC; TYO: 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 II 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 III.

$60 million upfront payment

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