BIIB Biogen Inc

By Matt Grossman

Biogen Inc. has agreed to a license and collaboration agreement with InnoCare Pharma Ltd. that gives Biogen some rights to orelabrutinib, a drug being developed as a potential cancer and multiple-sclerosis treatment.

The drug inhibits an enzyme with a role in multiple sclerosis's progression, the companies said. It is being studied in an international Phase 2 trial to treat relapsing-remitting MS. It has also been approved in China to treat some cancers.

Under the deal's terms, Biogen will have exclusive rights to orelabrutinib for MS treatment world-wide, and also for its use in certain autoimmune diseases outside of China. InnoCare will retain world-wide rights to the drug in the field of oncology, and to its use for some autoimmune diseases in the China region.

InnoCare will get a $125 million up-front payment, and up to $812.5 million more with potential development milestones and commercial payments.

InnoCare will also be eligible for tiered royalties.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

July 12, 2021 19:29 ET (23:29 GMT)

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