BRIEF — Mitsubishi links with Pharma Foods in autoimmune diseases

Drugmaker Mitsubishi Tanabe (TYO: 4508) has teamed up with fellow Japanese firm Pharma Foods International (TYO: 2929) in a research collaboration for the development of innovative monoclonal antibodies (mAbs) to treat autoimmune diseases.

They will work to improve the profile of prototype mAbs which PFI originally discovered, and then Mitsubishi Tanabe will conduct pharmacological efficacy studies in animal experiment models to identify the clinical candidate.

Mitsubishi Tanabe will pay Pharma Foods 250 million yen ($2.2 million) upfront as part of the deal, along with milestone payments and royalties in return for gaining manufacturing, development and commercialization rights for any successful candidate.