Amgen Gives Back Rights of Investigational Immuno-Oncology Drug to Molecular Partners

Amgen has returned global rights to the investigational immuno-oncology drug, MP0310, ending its licensing agreement with Molecular Partners.

The companies entered into the collaboration and licensing deal in December 2018, with an upfront payment of $50 million by Amgen and potential future payments of almost $500 million.

Despite Amgen’s decision to back out of the agreement, Molecular said it plans to go ahead with a phase 1 study of MP0310, which is a dual-targeted compound that has the potential to activate T-cells and other immune cells.