Biogen and Mitsubishi Tanabe Terminate Licensing Accord

Biogen and Mitsubishi Pharma Corp. have agreed to terminate a licence accord on MT-1303, a therapeutic agent for autoimmune diseases.

Under the termination, Mitsubishi regains all development and marketing rights in the world for all indications of MT-1303 and will record a lump sum revenue, booked as liability of deferred income at the end of December 2016 based on IFRS in the 4th quarter, FY2016.

The license accord dated from Sept. 2015 and gave Biogen the right to develop and market the drug globally, except in Asia and Japan.

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