Japan's Meiji Seika Pharma has terminated a license deal with U.S.-based Amalyte Pharmaceuticals for its investigational antiallergic drug ME3301 and discontinued development.
Meiji Seika said it entered into a license deal with Amalyte in 2013 for exclusive rights to develop and commercialize the compound worldwide.
Under the deal, Amalyte conducted a Phase II study of the drug in India and Ukraine for patients with ulcerative colitis.
But the study failed to confirm expected efficacies. Development rights are to be returned to Meiji Seika.
- here's the Meiji Seika website