Ono says no to Equillium’s itolizumab

1 November 2024

Shares of La Jolla, USA-based biotech Equillium (Nasdaq EQ) were more than 10% lower in Friday’s early trading, following the news that Japan’s Ono Pharmaceutical (TYO: 4528) has opted to allow its option to acquire Equillium’s rights to itolizumab to expire.

The companies entered into an exclusive option and asset purchase agreement in 2022 relating to itolizumab, a first-in-class anti-CD6 monoclonal antibody in development for acute graft-versus-host disease and lupus nephritis, to which Equillium gained rights through an exclusive partnership with India’s Biocon (NSE: BIOCON).

'Data met expectations'

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