Opexa reports Merck Serono not exercising option to buy Tcelna license
In a regulatory filing, Opexa Therapeutics (OPXA) reported that it received notice from Ares Trading, a wholly owned subsidiary of Merck Serono, that Merck Serono would not be exercising its option to acquire the exclusive, worldwide ex. Japan license to the company's Tcelna program for the treatment of multiple sclerosis granted to Merck Serono under the Option and License Agreement dated February 4, 2013, as amended. As a result of receiving the notice from Merck Serono, the agreement automatically expired upon receipt. As previously announced on October 28, 2016, the company's Phase IIb Abili-T clinical trial designed to evaluate the efficacy and safety of Tcelna in patients with secondary progressive MS did not meet its primary or secondary endpoints.