Regeneron in deal with Mitsubishi Tanabe for pain therapy candidate fasinumab in Asia

US biotech firm Regeneron Pharmaceuticals (Nasdaq: REGN) has entered into a collaboration with Mitsubishi Tanabe Pharma (TSE: 4508; MTPC)providing the Japanese drug major with exclusive development and commercial rights to fasinumab (REGN475), Regeneron's NGF antibody in late-stage development for musculoskeletal pain.

Under the terms of the agreement, Mitsubishi Tanabe will obtain exclusive development and commercial rights to fasinumab in Japan, Korea and nine other Asian countries, excluding China.

"Pain is one of the most common causes of disability, suffering and productivity loss across the world, and yet current treatments have limited efficacy, hold the risk of abuse or have other serious side effects," said Leonard Schleifer, president and chief executive of Regeneron, adding: "MTPC has proven experience marketing biologics for rheumatology and pain management and thus is an ideal partner in Asia. We look forward to advancing our NGF program in the coming months with the goal of bringing this investigational therapy to patients in serious need.