Prism BioLab and Ono Pharmaceutical enter joint research and licensing agreement

Betsy Goodfellow | April 25, 2024 | News story | Research and Development Oncology, Ono Pharmaceutical, Prism BioLab, research and licensing agreement 

Prism BioLab has announced that it has entered into a target-exclusive research and licensing agreement with Ono Pharmaceutical.

Under the terms of this agreement, the two companies will collaboratively develop a candidate for Ono’s oncology target using Prism’s PepMetrics technology. Once a candidate is identified, Prism is expected to license its right to Ono for the clinical development and commercialisation.

The agreement includes upfront payments as well as preclinical, clinical and commercialisation success-based milestones, along with royalties on future net sales, however specific financial terms have not yet been disclosed.

Seishi Katsumata, executive director of discovery and research at Ono Pharmaceutical, commented: “We highly appreciate PRISM’s PepMetics technology in PPI drug discovery. Through this drug discovery collaboration, we are excited to work with PRISM to identify and develop novel small molecule drugs for therapeutic targets that had been previously difficult to modulate with a small molecule, leading to further expansion of our development pipeline to address unmet medical needs across a broad range of diseases.”

Dai Takehara, president and chief executive officer of Prism BioLab, added: “We are very excited to enter into this collaboration with Ono who has a history of creating innovative drugs. We believe that our PepMetics technology will change the current paradigm in drug discovery by turning previously undruggable PPIs into targets readily druggable with small molecules. Through close collaboration between creative scientists of both companies, we expect to generate innovative and game-changing drugs for the benefit of patients.”

Betsy Goodfellow

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