Biogen aims to access potential of MT-1303 in multiple sclerosis (MS), ulcerative colitis, Crohn’s disease, and other autoimmune diseases.
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“Based on compelling efficacy and safety data, we believe that MT-1303 could be a best-in-class S1P modulator. There is a great need for effective oral therapies for the treatment of inflammatory bowel disease and other autoimmune indications, and we are excited to strengthen our late-stage pipeline with this next-generation oral investigational therapy,” said Alfred Sandrock, vice president and chief medical officer at Biogen.
Biogen will receive worldwide rights to MT-1303, excluding Asia. It will be responsible for global commercialization and also cover development costs outside of Asian territories. MTPC will receive an upfront payment of $60 million from Biogen and may receive up to $484 million in additional milestone payments for multiple indications and territories. MTPC has the right to participate in Biogen’s global clinical trials and has an option to co-promote non-MS indications in the U.S.
The transaction is subject to customary closing conditions, including the expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in the United States, and is expected to close in the fourth calendar quarter of 2015.
Source-Medindia