Merck KGaA Terminates Multiple Sclerosis Drug License Deal With Ono Pharma

June 17, 2014 8:25 AM

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German drug maker Merck KGaA (MKGAY.PK) announced Tuesday that it has reached a mutual agreement with Ono Pharmaceutical Co., Ltd. (OPHLF.PK) Osaka, Japan, to terminate the license agreement on ceralifimod (ONO-4641) because it does not meet Merck's threshold for continued investment.

Merck KGaA noted that it obtained worldwide exclusive license rights from Ono Pharmaceutical for the development and commercialization of ceralifimod (ONO-4641) in multiple sclerosis outside of Japan, Korea and Taiwan in October 2011. The drug candidate is currently in clinical development (Phase II...

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