PRISM BioLab Forays into a Joint Research and Licensing Agreement with Ono

PRISM BioLab, a biotechnology firm, is proposing little particle inhibitors of protein-protein interaction (PPI) targets, declared that it has gone into an objective selective exploration and licensing agreement with ONO PHARMACEUTICAL CO. 

Utilizing PepMetics technology, Ono and PRISM will jointly develop a development candidate for Ono's oncology target by the terms of the agreement. Once the development candidate is identified, PRISM will license its rights to Ono for clinical development and commercialization. Pre-clinical, clinical, and commercialization success-based milestones, royalties on future net sales, and other terms are included in the agreement. There are no specific financial terms made public.

"We highly appreciate PRISM's PepMetics® technology in PPI drug discovery", said Seishi Katsumata, Executive Director, Discovery & Research of Ono. "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."

"We are very excited to enter into this collaboration with Ono who has a history of creating innovative drugs. ", said Dai Takehara, President & CEO of PRISM Biolab. "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."