Ono Pharma buys rights to Equillium's itolizumab
Shares of La Jolla USA-based biotech Equillium (Nasdaq EQ) were up 12% to $1.85 in pre-market trading, on news of a lucrative licensing deal with Japan’s Ono Pharmaceutical (TYO: 4528)
The companies have entered into an exclusive option and asset purchase agreement regarding Equillium’s rights to itolizumab, a first-in-class anti-CD6 monoclonal antibody, to which the US firm gained rights through an exclusive partnership with India’s Biocon.
Itolizumab is currently in a Phase III study for patients with acute graft-versus-host disease and in a Phase Ib study for patients with lupus nephritis
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